Which of the following costs exhibits both decreasing and increasing marginal costs over a specific range of activity?
A. Semivariable cost.
B. Step-fixed cost.
C. Curvilinear cost.
D. Step-variable cost.
E. Fixed cost.
Answer: C
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Rate regulation provides incentives for public utility managers to:
A. artificially decrease the asset base. B. artificially decrease taxes. C. artificially increase the asset base. D. artificially decrease operating expenses.
In ________-pricing relationships, parties can attempt to change the ratio of price to goods in their own favor, or they can seek what may be defined as a fair price.
Fill in the blank(s) with the appropriate word(s).
Which of the following is an example of a staff position?
a. plant manager b. head of human resources c. All of these choices are examples of staff positions. d. chief foreman of the factory
A sunk cost is:
a. A cost that cannot be recovered regardless of what happens. b. Money that has been spent in a non productive manner. c. Is also known as an opportunity cost. d. Money that will be spent in the future.