Figure 13-3 -Refer to Figure 13-3. Why Doesn't the Total Cost Curve

question 150

Multiple Choice

Figure 13-3
-Refer to Figure 13-3. Why doesn't the total cost curve begin at the origin (the point 0,0) ?

• A)Because variable costs are positive when output is zero
• B)Because fixed costs are positive when output is zero
• C)Because the firm is producing at the efficient scale
• D)Because the firm is maximizing profits

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Definitions:

Concrete Operational Stage

A stage in Piaget's theory of cognitive development where children (approximately 7 to 12 years old) can think logically about concrete events.

Tangible Objects

Items that can be perceived through the sense of touch, having physical presence and form.

Actual Events

Factual occurrences or happenings in reality, as opposed to perceived or interpreted events.

Perspective-taking

The social cognitive skill of understanding another person's thoughts, feelings, and point of view.