A Fixed Cost Is

question 46

Multiple Choice

A fixed cost is:

• A) associated with any productive resource whose price is fixed.
• B) any cost that increases proportionately with output.
• C) any cost that a firm would incur even if output was zero.
• D) associated with all inputs whose short-run supply is perfectly inelastic.

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Definitions:

Classical Conditioning

The process of learning in which two stimuli are systematically paired together, so that a response first drawn out by the second stimulus is in time drawn out by only the first stimulus.

Unconditioned Stimulus

A stimulus that naturally triggers a reflex or response without the need for prior learning.

Conditioned Stimulus

In classical conditioning, a previously neutral stimulus that, after becoming associated with an unconditioned stimulus, eventually triggers a conditioned response.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired: a response that is at first elicited only by the second stimulus is eventually elicited by the first stimulus alone.