Total Fixed Cost (TFC)
What will be an ideal response?
Doesn't depend on output, must be paid even if output is zero, expidentures on 'fixed' inputs the Q of which is fixed or constant (land, structures, management)
You might also like to view...
If a single person has a standard deduction of $6,300, itemized deductions of $3,650, and a personal exemption of $4,000, then the first ________ of income is federal income tax free.
A. $13,950 B. $9,950 C. $10,300 D. $7,650
Total profit of a competitive firm can be found by multiplying profit per unit times units sold
a. True b. False Indicate whether the statement is true or false
today, the cash price for corn (delivery october) in nevada, ia is $3.30/bu and the cash price for corn is $3.24/bu in grinnell, ia. if a producer calculated that $0.08/bu was the amount that it would cost to cover all transportation and handling costs for shipping corn from grinnell to nevada, a farmer located near granola would:
a) sell corn in grinnell b) pay transport costs and sell corn in nevada
Education is subsidized because it generates beneficial externalities
a. True b. False Indicate whether the statement is true or false