Which of the Following Would NOT Be Included in a Producer's

question 190

Multiple Choice

Which of the following would NOT be included in a producer's total fixed cost?

• A)rent
• B)property taxes
• C)insurance
• D)depreciation
• E)component parts

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Definitions:

Units

The standard measurement or quantity in which a product, service, or statistic is counted or expressed.

Marginal Cost

The cost of producing one additional unit of a good or service.

Total Costs

The complete sum of all expenses incurred by a business in producing goods or services, including fixed and variable costs.

Output

The total amount of goods or services produced by a company, individual, or process within a given time frame.