Multiple Choice
-Refer to the graph above.The line segment OC represents
A) the average variable cost of producing output level Q*.
B) the average total cost of producing output level Q*.
C) the marginal cost of producing the last unit of output,when total output is equal to Q*.
D) the total cost of producing output level Q*.
E) the average fixed cost of producing output level Q*.
Correct Answer:
Verified
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