Fixed Costs Are Ignored in Allocating Scarce Resources Because

question 19

Multiple Choice

Fixed costs are ignored in allocating scarce resources because

• A)they are sunk.
• B)they are unaffected by the allocation of scarce resources.
• C)there are no fixed costs associated with scarce resources.
• D)fixed costs only apply to long-run decisions.

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Definitions:

Consciousness Raising

The act of increasing awareness or enlightening individuals about a particular set of facts or issues, often used in social and political movements.

Self-Esteem

Refers to an individual's subjective evaluation of their own worth and value.

Dependent

Relating to a variable in an experiment or study whose value depends on that of another.

Deflector

An individual who consistently diverts attention or conversation away from a specific topic, thought, or emotion.