Costs that are independent of the firm's level of output are called
a. fixed costs.
b. marginal costs.
c. opportunity costs.
d. sunk costs.
a. fixed costs.
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Rolls-Royce may actually sell fewer cars at lower prices due to the “snob effect.”
Answer the following statement true (T) or false (F)
The government makes all economic decisions in a market economy
Indicate whether the statement is true or false
Consider the same monopoly situation as in the previous question. The monopoly price is
a. 8 b. 46 c. 54 d. 92
Other things the same an increase in the interest rate
a. increases national saving, this is shown by moving along the demand for loanable funds curve. b. increases national saving, this is shown by moving along the supply of loanable funds curve. c. decreases national saving, this is shown by moving along the demand for loanable funds curve. d. decreases national saving, this is shown by moving along the supply of loanable funds curve.