Table 71 Table 71 Shows the Short-Run Cost Data of a Perfectly Competitive

question 185

Multiple Choice

Table 7.1
$$\begin{array} { | c | c | c | } \hline \text { Quantity } & \begin{array} { c } \text { Total Cost } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Variable Cost } \\\text { (dollars) }\end{array} \\\hline 0 & \$ 1000 & \$ 0 \\\hline 100 & 1360 & 360 \\\hline 200 & 1560 & 560 \\\hline 300 & 1960 & 960 \\\hline 400 & 2760 & 1760 \\\hline 500 & 4000 & 3000 \\\hline 600 & 5800 & 4800 \\\hline\end{array}$$ Table 7.1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units.
-Refer to Table 7.1.The fixed cost of production is

• A) $0
• B) $500
• C) $1000
• D) It cannot be determined.

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Definitions:

Ethnocentric Staffing

A human resource strategy where companies employ individuals from their home country to work in their operations abroad.

Job Embeddedness

Describes the extent to which an employee feels connected to their job and company, through networks, fit, and what they would have to sacrifice if they left.

Group Identity

The sense of belonging to a specific group, influenced by shared characteristics, interests, and common purposes, which can contribute to individuals' perceptions of themselves and others.

Americans With Disabilities Act (ADA)

U.S. legislation passed in 1990 that prohibits discrimination against individuals with disabilities in all areas of public life, including jobs, schools, transportation, and all public and private places open to the general public.