A Fixed Cost Is

question 23

Multiple Choice

A fixed cost is

• A)the cost of any input with a fixed price per unit.
• B)a cost which increases in a fixed proportion as output increases.
• C)a cost that does not vary with output and the firm must pay it even if output is zero.
• D)a cost that does not vary with output but the firm can avoid paying it if output is zero.

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Definitions:

Social Media

Online platforms where users create, share, or exchange information and ideas in virtual communities and networks.

Cultures

The beliefs, practices, arts, institutions, and all other products of human work and thought considered as a unit, especially as it pertains to a particular group of people at a certain time.

Percentage

A portion of 100 used in mathematics to express quantities as a fraction of 100.

Work Time

The period during which an individual is obligated to perform tasks or duties for an employer.