Average variable costs equal
A. total variable costs divided by output.
B. output divided by the change in total costs.
C. total variable costs divided by marginal costs.
D. the change in marginal costs from producing another unit of output.
Answer: A
You might also like to view...
One example of physical capital is the amount of savings that you have
Indicate whether the statement is true or false
Will a minimum wage lead to a larger increase in the unemployment rate if the labor demand curve is relatively price elastic or relatively price inelastic?
Dean should play golf instead of preparing for tomorrow's exam in economics if:
A. Dean can play golf for free. B. the benefit of golfing is greater than the benefit of studying. C. he is irrational. D. the economic surplus from playing golf is greater than the economic surplus from studying.
(Last Word) Which of the following would not help to relieve the Social Security and Medicare shortfalls?
A. Extending the Social Security tax to a higher level of earnings. B. Restricting immigration of skilled working-age adults. C. Increasing the retirement age for collecting Social Security and Medicare benefits. D. Reducing Social Security and Medicare benefits for wealthier individuals.