Which of the following is the best example of a fixed cost for a business?
a. the insurance payment for the protection of a building owned by the firm
b. shipping charges for the delivery of products
c. managerial salaries paid
d. the total of medical insurance premiums on the firm's employees
A
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Answer the next question based on the following payoff matrix for two oligopolistic firms in which the numbers indicate the profit in thousands of dollars for a high-price or a low-price strategy. Firm X? High PriceLow PriceFirm YHigh priceA = $625A = $725??B = $625B = $475?Low priceA = $475A = $400??B = $725B = $400If both firms collude to maximize joint profits, the total profits for the two firms will be
A. $1,200,000. B. $1,500,000. C. $1,400,000. D. $1,250,000.
Refer to Figure 13-11. What is the amount of excess capacity?
A) Q3 - Q2 units B) Q3 - Q1 units C) Q4 - Q2 units D) Q4 - Q3 units
Early attempts to establish paper money were hampered by:
a. counterfeiting. b. constitutional prohibition against states issuing paper money. c. currency valuations that varied from city to city. d. All of the above are correct. e. Only a and c are correct.
The majority of payments made by the federal government are for
a. transfer payments. b. administrative expenses. c. foreign aid. d. defense purchases