The Following Table Shows the Cost of Producing Different Units

question 88

Multiple Choice

The following table shows the cost of producing different units of ball point pens by a firm.Table 8.1

-According to Table 8.1, the total fixed cost of the firm equals:

• A)$18.
• B)$10.
• C)$2.
• D)$12.
• E)$8.

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Definitions:

Minnesota

A state in the northern United States, known for its lakes and forests, and also as the Land of 10,000 Lakes.

Equality

The state or condition of being equal, especially in status, rights, or opportunities.

Capacity Constraint

Limitations on the production capacity of a manufacturing plant, company, or economy, which can affect supply and pricing.

Binary Variable

A variable that has only two possible values, typically 0 and 1, to represent outcomes such as success/failure, yes/no, etc.