Because the amount of labor a firm employs can be changed, the cost of labor is known as
A) minimum cost.
B) variable cost.
C) maximum cost.
D) fixed cost.
E) an unavoidable cost.
B
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___________ is usually measured by the annual percent change in real output of goods and services per capita
Fill in the blank(s) with the appropriate word(s).
Financial risk occurs due to variations in returns which
A) is induced by leverage. B) is due to the ups and downs of the economy. C) is due to changes in government regulations. D) is a result of changes in exchange rates.
Most of the world's population lives in
A. North America. B. the LDCs. C. Western Europe. D. the NICs.
The market structures known for underproduction of goods are ______ and ______.
a. collusive oligopoly and perfect competition b. game theory and monopoly c. collusive oligopoly and monopoly d. cartels and perfect competition