Consider the Following Cost Data -In the Long Run:
A)all Costs Are Variable Costs
B)all

question 1

Multiple Choice

Consider the following cost data:

$\begin{array} { | l | c | c | c | c | c | c | c | } \hline \text { Output } & 0 & 1 & 2 & 3 & 4 & 5 & 6 \\\hline \text { Total Cost (\$) } & 24 & 33 & 41 & 48 & 54 & 61 & 69 \\\hline\end{array}$
-In the long run:

• A)all costs are variable costs
• B)all costs are fixed costs
• C)variable costs equal fixed costs
• D)fixed costs are greater than variable costs
• E)all costs become implicit costs

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Definitions:

Obedience

The act of following orders or instructions, typically from someone in a position of authority.

Deceived

To mislead or trick someone into believing something that is not true, often for personal gain or advantage.

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A person who helps students to acquire knowledge, competence, or virtue, often within an educational context.

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The tendency for individuals to exert less effort when working in a group than when working alone.