Which of the following costs can be positive when output is zero?
A) average variable cost
B) total variable cost
C) marginal cost
D) total fixed cost
E) None of the above because when output is zero there are no costs.
D
You might also like to view...
Using the data in the table above, the equilibrium quantity and equilibrium price for a cellular telephone are
A) 50,000 and $100. B) 80,000 and $80. C) 60,000 and $50. D) 100,000 and $20. E) 40,000 and $20.
Economies of scope exist when
A) the total cost of production falls as the output increases. B) a firm hires specialized resources to produce a range of goods and services. C) a firm uses outsourcing to produce a good or service. D) the cost of producing a unit of a good falls as its output increases.
Suppose a perfectly competitive increasing-cost industry is in long-run equilibrium when market demand suddenly decreases. What happens to the industry in the long run?
a. It experiences no change from the original equilibrium b. It experiences a higher equilibrium price and produces less output c. It experiences a lower equilibrium price and produces less output d. It experiences the same equilibrium price but produces more output e. It experiences the same equilibrium price but produces less output
As the interest rate increases, the velocity of money will increase as well
a. True b. False Indicate whether the statement is true or false