For a Large Firm That Produces and Sells Automobiles, Which

question 223

Multiple Choice

For a large firm that produces and sells automobiles, which of the following costs would be a variable cost?

• A)the unemployment insurance premium that the firm pays to the state of Missouri that is calculated based on the number of worker-hours that the firm uses
• B)the cost of the steel that is used in producing automobiles
• C)the cost of the electricity of running the machines on the factory floor
• D)All of the above are correct.

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Definitions:

Welfare Program

Governmental provisions designed to support the well-being of its citizens, particularly those in financial or social need.

Income Distribution

The way in which total income is shared among the population.

Income-equality Measures

Statistical tools used to assess the distribution of income across a population, indicating the level of income equality or inequality.

World War II

A global conflict that took place from 1939 to 1945, involving most of the world's nations and culminating in significant geopolitical changes.