Question
8. Which of the following is most likely to be a fixed cost for a business in the Short Run ? A. payment for supplies
8. Which of the following is most likely to be a fixed cost for a business in the Short Run?
A. payment for supplies used in manufacturing goods
B. property taxes for the business
C. income taxes for the business
D. all of the above are fixed costs in the short run.
9. The portion of a Long-Run Average Cost (LRAC) curve where average costs are decreasing as a firm expands reflects
- none of the below
- diseconomies of scale
- economies of scale
- lower wages
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Microeconomics A Contemporary Introduction
Authors: William A. McEachern
9th edition
978-0538453714, 538453710, 978-1111415921
