Recall the Application about the costs involved in opening a restaurant to answer the following question(s).Recall the Application. The royalty fee of 8.25 percent of revenue that you would pay to Sonic (the owner of the Sonic Drive-In brand) is :
A. considered a variable cost.
B. considered a sunk cost.
C. not considered part of your costs.
D. considered a fixed cost.
Answer: A
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Two economists from Northwestern University estimated the benefit households received from subscribing to broadband Internet service. The economists found that
A) the average consumer of broadband Internet service received a marginal benefit equal to $36. B) one month's benefit to consumers who subscribe to broadband Internet service is about $890 million. C) most consumers of broadband Internet service were not willing to pay more than $36 per month. D) the consumer surplus from dial-up Internet service exceeded the consumer surplus from broadband Internet service.
A decreased demand for U.S. dollars on the foreign exchange market, all else equal, will result in a depreciation of the U.S. dollar
Indicate whether the statement is true or false
As income and production rise, the demand for real money balances will ________ and interest rates will ________
A) fall; fall B) rise; rise C) rise; fall D) fall; rise
Cartels are unstable for each of the following reasons except which one?
A) entry by new firms B) the self-interest of each member C) barriers to entry D) the bargaining necessary to form a cartel