Which type of cost does not depend on a firm's output?
A. fixed cost
B. total cost
C. variable cost
D. marginal cost
Answer: A
Economics
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Zero profit in the economic sense means that firms are earning a normal rate of return.
Answer the following statement true (T) or false (F)
Economics
If the deposit expansion multiplier is 20, what is the reserve requirement in the banking system?
a. 20 percent b. 50 percent c. 2 percent d. 5 percent e. 10 percent
Economics
Susie wins $2 million in her state's lottery. If Susie keeps working after she wins the money, we can infer that the income effect is larger than the substitution effect for her
a. True b. False Indicate whether the statement is true or false
Economics
Refer to Figure 18.1. With an import ban, how many gloves are produced domestically in Duckland?
A. 100 B. 80 C. 60 D. 0
Economics