The Table Given Below Shows the Average Total Cost of Production

question 61

Multiple Choice

The table given below shows the average total cost of production of a firm at different levels of the output.Table 8.5

-In the long run,

• A)some resources are variable and some resources are fixed.
• B)all the resources can be varied.
• C)all resources are fixed.
• D)at least one resource is fixed.
• E)there are no explicit costs.

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Definitions:

Wear-and-Tear

A concept referring to the gradual damage or deterioration that occurs in objects, including the human body, as a result of normal use over time.

Cellular Accident

Unexpected and unplanned events at the cellular level that can lead to mutations or cellular damage.

Secondary Aging

The aging process attributed to external factors and lifestyle choices, such as diet, exercise, and environmental exposures, distinct from biological aging.

Gerontology

The scientific study of aging and the problems that elderly individuals may face.