Fixed costs
A) do not vary with output
B) vary with output
C) do not vary with price
D) vary with price
A
You might also like to view...
In Figure 4-16, an increase in the number of producers will shift supply from
A. S1to S2. B. S2to S1. C. S3to S2. D. S3to S1.
The classical economists attacked the mercantilist propositions that
a. state action was necessary to direct the capitalist system. b. money had no intrinsic value. c. output was completely supply-determined. d. the wealth of a nation was closely linked to the country's stock of precious metals. e. Both a and d
In the simple circular-flow diagram,
a. households own the factors of production. b. households buy all the goods and services that firms produce. c. land, labor, and capital flow from households to firms. d. All of the above are correct.
When firms discuss pricing strategies with each other:
A. it is a violation of antitrust laws. B. it is not a violation of antitrust laws because laws cannot restrict free speech. C. it is a violation of antitrust laws only if the discussion includes punishment strategies. D. it is a violation of antitrust laws only if some firms in the industry are excluded from the discussion.