Fixed Costs Exist

question 116

Multiple Choice

Fixed costs exist

• A)in both the short run and the long run.
• B)in the short run but not in the long run.
• C)in the long run but not in the short run.
• D)in neither the short run nor the long run.
• E)sometimes in the short run and sometimes in the long run.

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Definitions:

Perceptual Set

A readiness to perceive certain aspects of available sensory data and to ignore others, influenced by expectations, experiences, and context.

French Fries

Deep-fried strips of potatoes, often seasoned with salt, commonly served as a fast-food side dish or snack.

Difference Threshold

The minimum difference in stimulation that a person can detect 50% of the time.

Stimuli

External factors or conditions that elicit responses from an organism or a part of the body.