In the short run, total costs equal
A) the sum of total fixed costs and total variable costs.
B) the sum of total fixed costs and total explicit costs.
C) the sum of total variable costs and total implicit costs.
D) the sum of total fixed costs and total implicit costs.
Answer: A
You might also like to view...
Which of the following best describes the "interest rate effect"?
A) An increase in the price level lowers the interest rate and chokes off investment and consumption spending. B) An increase in the price level lowers the interest rate and chokes off government spending. C) An increase in the price level raises the interest rate and chokes off government spending. D) An increase in the price level raises the interest rate and chokes off investment and consumption spending.
An increase in investment can lead to a greater increase in aggregate demand if the value of the spending multiplier is: a. greater than 1
b. less than 1 but more than zero. c. negative. d. exactly equal to zero. e. exactly equal to one.
In most areas, there are a large number of qualified primary care physicians whose services are highly personalized. In addition to price, factors such as age, sex, location, and personality influence the choice of physician. The primary care physician market is probably: a. perfectly competitive
b. oligopolistic. c. monopolistic. d. monopolistically competitive.
The inflation-adjusted percentage change is the nominal percentage change plus the inflation rate.
Answer the following statement true (T) or false (F)