Assume baseball player salaries are fully determined before the season starts. From the point of view of the baseball team owner, player salaries during the course of the season are then
A) variable costs.
B) marginal costs.
C) fixed costs.
D) average costs.
C
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Refer to the figure above. What is the equilibrium rate of interest when the credit demand curve is CD1 and the credit supply curve is CS1?
A) 2% B) 3% C) 5% D) 4%
If net foreign investment in the United States is positive, how must national saving and domestic investment be related? (Assume that the capital account is zero and net transfers are zero.)
A) Domestic investment can be greater than or less than national saving. B) Domestic investment must be greater than national saving. C) Domestic investment must be less than national saving. D) Domestic investment and national saving must also be positive.
Suppose capital and labor are perfect substitutes resulting in a production function of q = K + L. That is, the isoquants are straight lines with a slope of -1
Derive the long-run total cost function TC = C(q) when the wage rate is w and the rental rate on capital is r.
The federal budget deficit was almost $____ billion in fiscal year 1992.
A. 100 B. 200 C. 300 D. 400 E. 500