If a Firm Produces Nothing, Which of the Following Costs

question 164

Multiple Choice

If a firm produces nothing, which of the following costs will be zero?

• A) total cost
• B) fixed cost
• C) opportunity cost
• D) variable cost

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Definitions:

Fixed Hours

Refers to a traditional work schedule where employees work a set number of hours per day, typically 9 am to 5 pm, Monday through Friday.

Task Significance

The extent to which a job has a substantial impact on the lives or work of other people, either within the organization or externally.

Task Identity

The extent to which a task necessitates the finishing of a complete and recognizable body of work.

Autonomy

The right or condition of self-government, or in a workplace context, the degree of freedom an employee has in their job.