Which of the Following,necessarily,equals Zero When the Firm's Short-Run Output

question 126

Multiple Choice

Which of the following,necessarily,equals zero when the firm's short-run output level is zero?

• A)sunk costs
• B)fixed costs
• C)implicit costs
• D)variable costs
• E)opportunity costs

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Definitions:

Marketing Concept

A business philosophy suggesting that the satisfaction of customer needs and wants is the primary focus of the business.

Firm's Long-Term Success

The sustained achievement of strategic goals and objectives that enables a business to grow, compete effectively, and maintain financial health over an extended period.

Customer Needs

The desires, requirements, or necessities that customers express, which can influence their purchasing decisions.

Empowerment

The process of increasing the capacity of individuals or groups to make choices and to transform those choices into desired actions and outcomes.