Costs That Are Spent and Cannot Be Changed in the Period

question 87

Multiple Choice

Costs that are spent and cannot be changed in the period of time under consideration are called:

• A) variable costs.
• B) total costs.
• C) marginal costs.
• D) fixed costs.

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Definitions:

John Locke

A 17th-century English philosopher known for his work on political philosophy and theory of knowledge.

Leviathan

Often refers to a large, powerful sea creature in biblical literature, or metaphorically to something very large and powerful.

State Of Nature

A concept in political philosophy regarding the hypothetical conditions of human beings before or without political association.

Social Contract

A theory or model that explains the legitimacy of the authority of the state over the individual.