Examlex
Which of the following would be an example of a fixed cost?
Economic Practice
A system or set of methods followed in the management and administration of economic affairs.
Price Difference
The disparity in the cost between two related goods, markets, or time periods.
Long-run Equilibrium
A state in which all factors of production and outputs are variable, leading to a situation where all firms in a market are making normal profit.
Perfectly Competitive
characterizes a market structure where there are many buyers and sellers, all selling homogeneous products, with no single participant able to influence the market price of the product.
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