The total cost to the firm of producing zero units of output is
a. zero in both the short run and the long run.
b. its fixed cost in the short run and zero in the long run.
c. its fixed cost in both the short run and the long run.
d. its variable cost in both the short run and the long run.
b
You might also like to view...
The cost-benefit analysis on the financial impact smokers have on society conducted by Vanderbilt professor Kip Viscusi concludes that
A) smokers provide a net public service to society. B) smokers are a financial drain on society. C) smokers contribute less to retirement and pension programs than they receive from those programs. D) smokers account for about 32 cents of net cost to everyone else in society for every pack of cigarettes smoked.
One way the venture capital firm avoids the free-rider problem is by
A) prohibiting the sale of equity in the firm to anyone except the venture capital firm. B) prohibiting members from serving on the board of directors. C) prohibiting the borrowing firm from replacing management. D) requiring collateral equal to the value of the borrowed funds.
Suppose a consumer has an income of $800 per month and that she spends her entire income each month on beer and bratwurst. The price of a pint of beer is $5, and the price of a bratwurst is $4 . Which of the following combinations of beers and bratwursts represents a point that would lie directly on the consumer's budget constraint?
a. 160 beers and 200 bratwursts b. 40 beers and 50 bratwursts c. 80 beers and 100 bratwursts d. 80 beers and 0 bratwursts
U.S. producers of steel were harmed as a result of a U.S. tariff placed on steel in early 2018.
Answer the following statement true (T) or false (F)