Which of the Following Variables Is NOT Included in the BVI

question 25

Multiple Choice

Which of the following variables is NOT included in the BVI equation?

• A) employee hourly wage of the blogger
• B) average advertising yield
• C) average opportunity cost of the blogger
• D) average daily hits
• E) average numbers of hours spent per day blogging

---

Definitions:

Long-Run Equilibrium

A state in which all factors of production and inputs can be adjusted by firms, leading to a situation where no firm has an incentive to change its output or production method.

LRAC Curve

Long-Run Average Cost Curve, a graphical representation showing the minimum cost at which any output level can be produced in the long run.

Exiting Firms

Businesses that are leaving a particular market due to various reasons such as unprofitability, strategic realignment, or market saturation.

Increasing-Cost Industry

An industry in which production costs increase as the industry's output expands.