Which of the Following Is a Microeconomic Topic

question 71

Multiple Choice

Which of the following is a microeconomic topic?
i.Gas prices increase after a hurricane hits the gulf coast.
ii.Xavier starts a new business designing web pages.
iii.Abby decides to practice an extra hour of soccer instead of studying.

• A) i, ii and iii
• B) i only
• C) ii and iii
• D) ii only
• E) i and ii

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Definitions:

Return on Investment

A financial metric used to evaluate the efficiency or profitability of an investment, calculated as a percentage of the investment's return relative to its cost.

Selling Price

The sum of money required for a product or service, which directly affects the income produced through sales.

Fixed Manufacturing Overhead

Fixed costs related to manufacturing that do not change with the level of production, such as factory rent and salaries of permanent staff.

Direct Labor

The wages and other compensation paid to employees who are directly involved in the production of goods and services.