Whenever an Input Makes Up a Large Percentage of a Good's

question 96

Multiple Choice

Whenever an input makes up a large percentage of a good's final cost, an increase in that input's price will

• A) affect total cost relatively more.
• B) not affect total revenues.
• C) affect only accounting profits.
• D) cause the firm to shutdown.

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Definitions:

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A psychological phenomenon characterized by emotional distress and anxiety experienced when separated from a significant person or environment.