If a Firm Produces Nothing, Its _____ Equal Zero

question 42

Multiple Choice

If a firm produces nothing, its _____ equal zero.

• A)variable costs
• B)fixed costs
• C)total costs
• D)All of these are correct.

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Definitions:

Executed

indicates that an operation or task has been successfully carried out or implemented to its full extent.

Preexisting Duty Rule

A principle in contract law stating that performing or promising to perform a duty already owed under contract does not constitute valid consideration for a new promise.

Unforeseen Difficulties

Unexpected challenges or obstacles that were not anticipated, making a task or goal harder to achieve.

Preexisting Duty

An obligation that a party is already legally bound to perform, which cannot serve as consideration for a new contract.