A sunk cost has no effect on supply because it
A) applies to all suppliers.
B) can be passed on to consumers.
C) cannot be avoided by not supplying.
D) cannot be passed on to consumers.
E) did not have to be incurred in order for the good to be supplied.
C
You might also like to view...
The law of diminishing returns makes it clear that as more a variable input is employed, in the ________ the marginal product of the variable input eventually will ________
A) short run; rise B) long run; rise C) short run; fall D) long run; fall
The figure above illustrates the problem of overcrowding and external costs experienced during the summer months in the state park. An efficient allocation of resources occurs at
A) point F. B) point G. C) point H. D) point I.
How did McDonalds address the obesity issue in China?
What will be an ideal response?
The impact of immigration on an economy's steady state capital-labor ratio is reduced to the extent that the immigrants tend to ________ than the native population
A) save more B) have higher fertility C) have lower income D) be younger