Figure 7-5
Which of the graphs in Figure 7-5 could be a firm's total fixed cost curve?
a.
(a)
b.
(b)
c.
(c)
d.
(d)
c
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If a firm traded on the New York Stock Exchange posts an accounting profit of $10 million, then the firm is making a positive economic profit
A) only if the Securities and Exchange Commission (SEC) approves the accounting report. B) only if the firm's opportunity cost is less than $10 million. C) only if the firm's opportunity benefit is more than $10 million. D) only if the firm's management receives stock compensation.
An economic model is a realistic depiction of the operation of the economy
a. True b. False Indicate whether the statement is true or false
If there is an increase in both the supply and demand for a good, which of the following will definitely occur?
a. The price of the good will increase. b. The price of the good will decrease. c. The equilibrium quantity will increase. d. The equilibrium quantity will decrease.
When making a purchase, it is least costly to
a. pay cash. b. put it on a credit card and pay off the balance plus interest in one year. c. put it on a credit card and pay off the balance at the end of the month before interest accrues. d. it doesn't matter because all three have the same present value.