Which of the following best describes average variable cost? a. ...

[Mr.Thesaxman]

Which of the following best describes average variable cost?
 a. The change in total cost when one additional unit of output is produced.
  b. Total cost divided by the quantity of output produced.
  c. Total variable cost divided by the quantity of output produced.
  d. Total fixed cost divided by the quantity of output produced.
  e. Costs that do not vary as output varies.

Question 2

From 2009 to 2013, the price level in the U.S. has increased by 8.3 percent. This implies that the price index in 2012 was:
 a. 108.3.
  b. 183.
 c. 100.
 d. 98.3.
 e. 92.7.

[covalentbond]

Answer to Question 1

c

Answer to Question 2

a

[Mr.Thesaxman]

Excellent

[dantucker]

Thanks for the timely response, appreciate it