Which of the following is equivalent to average total cost?
A) Fixed cost plus variable cost.
B) Fixed cost and variable cost added together and then divided by output.
C) The change in total cost divided by the change in output.
D) Marginal cost plus variable cost.
Correct Answer:
Verified
Q17: The law of diminishing returns means that:
A)
Q18: Which of the following is a factor
Q19: Ceteris paribus,the law of diminishing returns states
Q20: Which of the following statements concerning the
Q21: Total revenue minus total cost equals:
A) Profit.
B)
Q23: Which of the following will always increase
Q24: A firm can be identified as profitable
Q25: Average total cost is defined as:
A) Total
Q26: Costs of production that do not change
Q27: Total cost is equal to _ costs
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