The Relatively Fixed Costs Such as the Costs of Plant

question 65

Multiple Choice

The relatively fixed costs such as the costs of plant and equipment, which do not increase with an increase in the number of units manufactured, are known as _____.

• A)fixed cost of production
• B)fixed cost of supply
• C)fixed cost of demand
• D)fixed cost of scale

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Definitions:

Oil Spill

The release of liquid petroleum hydrocarbons into the environment, especially marine areas, leading to pollution.

Geologic Resources

Naturally occurring materials of economic value extracted from the Earth, including minerals, fossil fuels, and groundwater.

Floodplains

Flat or nearly flat land adjacent to a stream or river that experiences occasional or periodic flooding.

Cement Plant

A facility that produces cement from raw materials through a process of grinding and calcination.