Costs That Vary with the Level of Production of the Firm

question 6

Multiple Choice

Costs that vary with the level of production of the firm are:

• A) opportunity costs
• B) semi-variable costs
• C) fixed costs
• D) variable costs
• E) implicit costs

Understand and describe the concept of descriptive norms.

Understand and describe the concept of injunctive norms.

Identify the impact of context on the effectiveness of norms.

Differentiate between descriptive norms and injunctive norms.