The Table Given Below Shows the Total Fixed and Variable

question 72

Multiple Choice

The table given below shows the total fixed and variable costs of a firm.Table 8.3

-If the firm described in Table 8.3 decides to produce nothing, its:

• A)total cost will fall to zero.
• B)total variable cost will be equal to $30.
• C)total cost will equal $40.
• D)average total cost will equal zero.
• E)marginal cost will equal $10.

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Definitions:

Division of Labor

The allocation of different tasks to different people or groups in an organization or production process.

Proficient

Having a high level of skill or expertise in a particular area or activity.

Specialized Task

An organizational duty or responsibility that requires specific skills or expertise, often designed to be performed by individuals or teams with particular qualifications.

Precambrian

denotes the vast period of time before the Cambrian period, covering the formation of the Earth until about 541 million years ago.