If a Firm Has No Variable Costs, the Profit-Maximizing Price

question 12

True/False

If a firm has no variable costs, the profit-maximizing price is also the revenue-maximizing price.

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Definitions:

Implicit Assumption

An implicit assumption is an unstated belief or understanding that underlies and influences thoughts, actions, and decisions without being directly expressed or acknowledged.

Overt Racism

Blatant and openly exhibited racial prejudice and discrimination.

Invisible

Often used metaphorically to describe something that is not noticeable or recognized, despite its presence or impact.

Whiteness

A socially constructed racial category that consists of institutionalized practices and ideas that people participate in consciously and unconsciously. Whiteness is simultaneously taken for granted, largely invisible, and a yardstick for judgment of behavior and ideas.