The Table Given Below Shows the Total Fixed and Variable

question 29

Multiple Choice

The table given below shows the total fixed and variable costs of a firm. Table 7.3
In Table 7.3, marginal cost is equal to average total cost at a quantity of:

• A)1 unit.
• B)3 units.
• C)4 units.
• D)5 units.
• E)8 units.

---

Definitions:

Truth in Lending Act

A U.S. federal law designed to promote informed use of consumer credit by requiring disclosures about its terms and cost.

Discretion

The quality of behaving or speaking in such a way as to avoid causing offense or revealing confidential information.

Certified Check

A payer’s check written and signed by the payer, which is stamped “certified” by the bank. The bank has already drawn money from the payer’s account to guarantee that the check will be paid.

Managed Care Organizations

Health organizations that provide medical care directly to the insured person with the aim to improve healthcare services while controlling costs.