Refer to Figure 8.6. The vertical distance AB is Outdoor Equipment's
A) marginal cost.
B) average fixed cost.
C) total fixed cost.
D) total cost.
B) average fixed cost.
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If a nation experiences severe drought and real risk-free interest rate rises, then:
a. Aggregate demand falls, and aggregate supply rises. b. Aggregate demand and aggregate supply rise. c. Aggregate demand and aggregate supply fall. d. Neither aggregate demand nor aggregate supply change. e. None of the above.
If the number of people unemployed rose but the number of people employed and the adult population stayed the same, then the labor force participation rate would rise
a. True b. False Indicate whether the statement is true or false
In a monopolistically competitive market,
a. the entry of new firms creates externalities. b. the absence of restrictions on entry by new firms ensures that there will be no deadweight loss. c. there are always too many firms in the market relative to the socially-optimal number of firms. d. firms cannot earn positive economic profits in the short run.
GDP does not reflect
a. the value of leisure. b. the value of goods and services produced at home. c. the quality of the environment. d. All of the above are correct.