If a Firm's Fixed Cost Is $10,000 and the Firm

question 89

True/False

If a firm's fixed cost is $10,000 and the firm produces zero output, the firm's total cost to produce zero output is less than $10,000.

---

Definitions:

Corporation by Estoppel

Corporation by estoppel is a legal doctrine preventing an individual from denying a group's status as a corporation if they have treated it as such in their dealings.

Defective Corporation

A company that has failed to comply with certain legal formalities required for its establishment, potentially affecting its legal standing.

Foreign Corporation

A corporation in a state in which it conducts business but is not incorporated.

S Corporation

A type of corporation in the United States that meets specific Internal Revenue Code requirements and is taxed differently, passing income directly to shareholders.