Assume That in the Short Run a Firm Is Producing

question 15

Multiple Choice

Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and has average variable costs of $150. The firm's total costs are.

• A)$20,000.
• B)$15,000.
• C)$50.
• D)$5,000.

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Definitions:

Argumentum Ad Baculum

A logical fallacy in which an argument is made through appeal to force or threat instead of reason.

Circular Reasoning

A logical fallacy in which the conclusion of an argument is used as a premise of the same argument.

Argumentum Ad Hominem

A logical fallacy where an argument is countered by attacking the character, motive, or other attributes of the person making the argument, rather than addressing the substance of the argument itself.

Sarbanes-Oxley Act

A United States federal law enacted in 2002 that set new or expanded requirements for all U.S. public company boards, management, and public accounting firms, aimed at protecting investors from fraudulent financial reporting.