An Example of a fiXed Cost of Producing a Good

question 1

Multiple Choice

An example of a fixed cost of producing a good is the _____.

• A) cost of transporting the finished goods
• B) rent paid for the office building
• C) cost of raw materials
• D) wage paid to part-time workers

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Definitions:

English Settlement

Refers to the establishment of communities and colonies by English people in foreign territories, notably in the Americas, during the 16th and 17th centuries.

Privateers

Armed private ships licensed to attack enemy shipping during wartime, functioning as a form of outsourced naval warfare.

Colonize

The act of establishing control over foreign lands and peoples, often involving settlement and economic exploitation, forming colonies that are subject to the colonizing nation.

Permanent Colonies

Historically established settlements in new territories that were maintained over long periods, often for economic and strategic reasons.