A Fixed Cost Can Be Thought of as

question 100

Multiple Choice

A fixed cost can be thought of as

• A) a cost that changes as output increases.
• B) a cost that must be paid even if output equals zero.
• C) a cost that is paid only when output equals zero.
• D) total costs ignoring opportunity costs.

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Definitions:

Measures

Quantitative or qualitative assessments or comparisons of different aspects of a concept or thing.

Interval Data

A type of numerical data in which the intervals between values are meaningful, allowing for a wide range of statistical operations.

Nominal

A term used to describe data that can be categorized into named groups without any natural order.

Age

A numerical measurement expressing the time that has elapsed since an individual or object's creation or birth.