When Graphed, a Typical Step-Fixed Cost Appears As

question 87

Multiple Choice

When graphed, a typical step-fixed cost appears as:

• A) a horizontal line.
• B) a vertical line.
• C) a series of staggered horizontal lines
• D) a diagonal line that slopes downward to the right.
• E) a diagonal line that slopes upward to the right.

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Definitions:

Slope

A measure of the steepness or incline of a line, represented as the ratio of the vertical change to the horizontal change between two points on the line.

Vertical Axis

The vertical number line of a graph along which values of the y-variable are measured; also referred to as the y-axis.

Linear Relationship

The relationship between two variables in which the slope is constant and therefore is depicted on a graph by a curve that is a straight line.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a particular price over a specified period.