Which of the following observations is true?
a. In the long run, more costs become variable.
b. Fixed costs can be completely varied if the time period is sufficient.
c. Fixed costs arise when some types of inputs can be bought only in big batches.
d. Variable costs arise when inputs have a large productive capacity.
a
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According to the U.S. Secret Service, approximately $2.6 billion of U.S. paper currency in circulation is counterfeit
Undetected counterfeit currency which is spent and circulated in the marketplace is an example of the counterfeit currency being used as a A) medium of exchange. B) store of value. C) commodity money. D) bank reserve.
The intrinsic value of an option
A) is equal to the option premium. B) is the amount the option actually is worth if it is immediately exercised. C) is the amount the option is expected to be worth on its expiration date. D) is impossible to determine in the absence of information on the future prices of the underlying asset.
If the market is offering consumers the trade-off of 3 pints of Pepsi for 1 pizza, and if the price of a pizza is $9, then what is the price of a pint of Pepsi?
There are _____ members of the Board of Governors of the Federal Reserve; each serves one _____ year term.
A. 7; 14 B. 14; 7 C. 7; 7 D. 14; 14