Nonrival Private Goods Are Likely to Have ________ Fixed Costs

question 112

Multiple Choice

Nonrival private goods are likely to have ________ fixed costs and ________ marginal costs.

• A) small; large
• B) no; small
• C) large; small
• D) large; no

---

Definitions:

Payables Turnover Rate

An efficiency ratio that measures how quickly a company pays off its suppliers, calculated as cost of goods sold divided by average accounts payable.

Accounts Payable Balance

The total amount of short-term liabilities or obligations a company owes to its creditors or suppliers.

Sales

The total revenue generated from goods or services sold by a company during a specific period.

COGS

Stands for Cost of Goods Sold, which is the direct costs attributable to the production of the goods sold by a company.