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Notice the costs as given in the table below. What is the total fixed cost in the table below?
Market Economy
An economic system where supply and demand from consumers and businesses drive economic decision-making and the allocation of resources.
Economic Decisions
Choices made by individuals, firms, or governments regarding allocation of resources to satisfy needs and desires.
Laissez-Faire Economy
An economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.
Self-Interest
An individual’s personal gain; the drivers of economic behavior assuming that individuals act in pursuit of their own best interests.
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