Asked by
Degnet Sorsa
on Nov 04, 2024
Verified
As output rises, ________ will continue to fall.
A) average variable costs
B) average total costs
C) average fixed costs
D) marginal costs
Average Fixed Costs
The fixed costs of production (such as rent and salaries) divided by the quantity of output produced.
Average Total Costs
The overall expense of creating goods divided by the number of items produced.
Output
The quantity of goods or services produced by a firm, industry, or economy within a specified period.
- Acquire an understanding of how to calculate and the relevance of average costs, encompassing average fixed costs, average variable costs, and average total costs.
Verified Answer
BC
Learning Objectives
- Acquire an understanding of how to calculate and the relevance of average costs, encompassing average fixed costs, average variable costs, and average total costs.