Which of the following is an example of a fixed cost for a fishing company?
A. The cost of hiring a fishing crew.
B. The fuel costs of running the boat.
C. The monthly loan payment on the boat.
D. The supply of nets, hooks, and fishing lines.
Answer: C
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A rational decision maker will take only those actions for which the expected marginal benefit _____
a. is positive. b. is at its maximum level. c. is greater than or equal to the expected marginal cost. d. is less than the expected marginal cost. e. exactly equals the total cost.
A PPF is a straight line as a result of
What will be an ideal response?
Income elasticity will be positive for:
A. all normal goods. B. only necessities. C. only luxury goods with substitutes. D. all inferior goods.
A disadvantage of the corporate form of business organization is
A) double taxation. B) limited access to capital. C) that the corporation can only do business in the state where it was incorporated. D) unlimited liability for shareholders.