Which of the following is an example of a variable cost for a bakery?
a. monthly mortgage payment for the building
b. monthly loan payment for ovens
c. fire insurance payments
d. flour and other ingredients for baking
e. property taxes
D
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When disposable income increases, saving will
A) not change. B) increase, and the supply of loanable funds curve shifts rightward. C) decrease, and there is a movement downward along the supply of loanable funds curve. D) increase, and there is a movement upward along the supply of loanable funds curve. E) decrease, and the supply of loanable funds curve shifts leftward.
The elasticity of supply of a good that is produced in a perfectly competitive industry is close to zero
a. True b. False Indicate whether the statement is true or false
Consider a firm with the following cost and revenue information: ATC = $8, AVC = $7, and MR = MC = $6. If the firm produces Q = 60 in the short run, it:
A. is minimizing losses. B. makes a total loss of $60. C. should produce more output. D. should shut down.
If you consume goods and services whose prices are rising faster than inflation, compared to the average person, you are...
What will be an ideal response?