The Average Fixed Cost of a Firm Equal

question 147

Multiple Choice

The average fixed cost of a firm equal:

• A) implicit costs divided by output.
• B) explicit costs divided by output.
• C) total cost minus variable cost.
• D) total cost minus total variable cost divided by output.

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Definitions:

Bureaucratic Inertia

Refers to the tendency of large, rigid bureaucracies to continue their policies even when their clients’ needs change.

Internet Crimes

Illegal activities conducted through the internet, including fraud, hacking, identity theft, and cyberbullying, among others.

Departmental Managers

Individuals responsible for overseeing the operations and performance of a specific department within an organization.

Bureaucratic Ritualism

Involves bureaucrats becoming so preoccupied with rules and regulations that they make it difficult for the organization to fulfill its goals.