What type of cost has NO impact on determining the profit-maximizing sales quantity?
A. Avoidable fixed costs
B. Sunk fixed costs
C. Variable costs
D. Average variable costs
B. Sunk fixed costs
You might also like to view...
In which case would the quantity of money demanded by the public tend to increase by the greatest amount?
A. The interest rate decreases and nominal GDP increases. B. The interest rate decreases and nominal GDP decreases. C. The interest rate increases and nominal GDP decreases. D. The interest rate increases and nominal GDP increases.
A normal good is a good for which demand
A) decreases when income increases. B) increases when income increases. C) decreases when population increases. D) increases when population increases.
Other things being equal, the monopolist will
A) hire more workers than if the industry were perfectly competitive. B) hire the same number of workers as a perfectly competitive industry would. C) hire fewer workers than if the industry were perfectly competitive. D) have lower profits than if the industry were perfectly competitive.
In a competitive market, when price is below the equilibrium level, the price will be driven upward due to
a. excess supply b. government intervention c. competition among suppliers d. excess demand e. technical inefficiency