GE Has Fixed Costs of $13B and Variable Costs for the Year

question 304

Multiple Choice

GE has fixed costs of $13B and variable costs for the year of $8B.Their total costs are:

• A)$21B
• B)$13B
• C)$5B
• D)there is not enough information to calculate

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Definitions:

Living Standards

The level of wealth, comfort, material goods, and necessities available to a person, group, or society.

Economic Rationality

The assumption that individuals make decisions based on the best possible benefit to themselves, considering available information and costs.

Unpaid Volunteer Work

Labor that individuals provide without financial compensation for the benefit of their community or society.

Individual Choice

The decisions made by individuals based on their preferences and constraints.