A Recent Study Conducted by the Annenberg Public Policy Center

question 33

Multiple Choice

A recent study conducted by the Annenberg Public Policy Center found that

• A)The O'Reilly Factor has little redeeming news value.
• B)Saturday Night Live and The Daily Show provide most Americans with their source of political news.
• C)national satire shows such as The Colbert Report have only entertainment value.
• D)those who watch The Daily Show regularly know more about current events than non-viewers.
• E)those who watch The O'Reilly Factor also tend to watch The Colbert Report.

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Definitions:

Total Fixed Costs

Costs that do not vary with the level of output or sales in the short term, including expenses such as rent, salaries, and insurance.

Profit-seeking

The pursuit of activities that are expected to result in financial gain or increased profitability.

Profit-maximizing Output

The level of production at which a company can achieve the highest level of profit given its costs and the market price of its product.

Competitive Firm

A business that operates in a market where it has numerous competitors and cannot set prices but rather accepts market prices.