Multiple Choice
Average variable cost is
A) The ratio of total variable cost to the quantity of output produced
B) The ratio of variable cost to total cost
C) The ratio of variable cost to fixed cost
D) The difference between variable and fixed cost
Correct Answer:
Verified
Related Questions
Q27: The long-run total cost of zero output
Q28: The total fixed cost function
A)Is horizontal
B)Is U-shaped
C)Is
Q29: Marginal cost is defined as
A)The rate at
Q30: The MC curve slopes upward due to
A)Increasing
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