Which of the Following Statements Is True

question 80

Multiple Choice

Which of the following statements is true?

• A)In the short run, there are no fixed costs, only variable costs.
• B)In the short run, there are fixed and variable costs, but in the long run there are only fixed costs.
• C)In the short run, there are fixed and variable costs, but fixed costs are the only costs a firm is concerned with.
• D)In the long run, there are no costs, fixed or variable.
• E)none of the above

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Definitions:

Numeric Field

A field in databases or software applications designated for numerical data.

Description Line

A specific line of text that provides detailed information about a product, service, or document, often found in catalogs, invoices, or online listings.

Draft

A written order drawn on one person by another, requesting him to pay money to a designated third person.

Demand

A claim; a legal obligation; a request to perform an alleged obligation; a written statement of a claim. In corporation law, a request that the board of directors sue a person who has harmed the corporation; a prerequisite to a shareholder derivative suit.