The amount of money paid to workers as wages is an example of fixed costs
a. True
b. False
Indicate whether the statement is true or false
False
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Linda noticed that ever since her brother bought theft insurance for his car, he keeps forgetting to lock his car. Her brother's behavior is an example of ________
A) adverse selection B) moral hazard C) a positive externality D) a pecuniary externality
A natural monopolist that sets prices equal to marginal cost will:
A. set a price greater than average total costs. B. be inefficient. C. incur losses. D. earn zero accounting profits.
How long does it take a firm to go from the short run to the long run?
a. six months b. one year c. two years d. It depends on the nature of the firm.
Which of the following is true about income inequality?
A. Inequality tends to diminish as the population increases. B. Inequality tends to be greatest in the poorest countries. C. Inequality tends to get worse as a country develops. D. Inequality is not an issue for developed countries.