"Fill in the Blank" in the Table Below and Then

question 49

Multiple Choice

"Fill in the blank" in the table below and then answering the question below.

-Which of the following statements regarding total fixed costs is correct?

• A)When total fixed costs are graphed,the curve will rise from the origin at a constant rate.
• B)When total fixed costs are graphed,the curve will be horizontal.
• C)Total fixed costs equal total variable cost less total average costs.
• D)Total fixed costs rise slowly at first,but then more quickly as output increases.
• E)Total fixed costs equal total marginal costs plus total variable costs.

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Definitions:

Agricultural Subsidies

Financial aids and support provided by government agencies to farmers and agribusinesses to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities.

Food, Conservation, And Energy Act

A piece of legislation aimed at governing various aspects of food, agriculture, and energy resource management; also known as the Farm Bill.

Smooth Income

The practice or process of stabilizing income over time in order to manage fluctuations and avoid significant variations in earning levels.

Parity

A concept of economic equality or equivalence, such as between currencies or in the income levels between groups.