Which of the Following Firms Is Most Likely to Have

question 272

Multiple Choice

Which of the following firms is most likely to have a constant marginal cost?

• A) A firm that is a price-taker
• B) A firm that has extremely high fixed costs
• C) A firm that has extremely high variable costs
• D) A firm that faces a horizontal demand curve

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Definitions:

Massachusetts

A state in the northeastern United States, known for its significant colonial history, its role in the American Revolutionary War, and as the home of Harvard University.

Phillis Wheatley

The first African American woman to publish a book of poetry, hailing from the 18th century, recognized for her literary contributions despite being enslaved.

Poetry

A form of literature utilizing aesthetic and rhythmic qualities of language to evoke meanings beyond prose's literal interpretation.

White Virginians

Refers to the Caucasian inhabitants of Virginia, especially significant in historical contexts relating to their roles in the colonial, antebellum, and Civil War periods of the United States.