A Map Is an Example of a Model Because a Map

question 86

Multiple Choice

A map is an example of a model because a map

• A) realistically describes an area.
• B) is always as complex as space will permit.
• C) is two-dimensional.
• D) is a simplified representation of reality.

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Definitions:

Output

The total amount of goods or services produced by a firm, industry, or economy within a given period.

Short-Run Supply

The supply of goods that varies with changes in price in the short term, where at least one factor of production is fixed.

Average Variable Cost

The total variable costs divided by the quantity of output produced, indicating the average cost of production per unit when fixed costs are excluded.

Marginal Cost

The additional cost incurred by producing one more unit of a product or service.