The total fixed cost curve:
a. varies with the quantity of inputs used.
b. decreases with output.
c. increases with output.
d. remains constant regardless of output.
d
You might also like to view...
The law of diminishing marginal utility explains why an individual's demand curve is elastic
a. True b. False
"Supply curves are upward sloping" is a graphical way of saying
a. supply equals demand b. price and quantity supplied are inversely related c. price and quantity demanded are directly related d. price and quantity supplied are directly related e. price and quantity demanded are inversely related
It should not be surprising if the public sector fails to pay for the right amount or right kinds of basic research because
a. basic research is not a public good. b. the benefits of basic research are hard to measure. c. members of Congress usually have little expertise in science. d. Both b and c are correct.
Suppose 100 townspeople value a statue of the local hero at $1 each, and construction of the statue would cost $90. Which of the following is true?
A. It would be efficient to build the statue, but it may not be built because some of the townspeople who value the statue will not contribute to its construction. B. It would be efficient to build the statue and it will be built because at least ninety of the townspeople will contribute to its construction. C. The statue will not be built because it is not efficient to build a statue that costs $90 if the townspeople value it at only $1. D. The statue will not be built because the local government does not have the power to tax only those who value it.