Total Costs

question 41

Multiple Choice

Total costs:

• A) are fixed costs plus variable costs.
• B) include explicit and implicit costs.
• C) increases as the firm increases output.
• D) All of these are true.

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Definitions:

Affordable Care Act

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Guidelines, principles, legislation, and activities that affect the living conditions conducive to human welfare.

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Groups within a community who have different national or cultural traditions from the main population, often having distinct language, religion, or heritage.