In the Long Run, Total Fixed Cost

question 28

Multiple Choice

In the long run, total fixed cost:

• A) falls.
• B) does not exist.
• C) is constant.
• D) increases.

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Definitions:

Marketing Concept

A philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.

Market Orientation

A business approach centered around understanding and meeting the needs and wants of customers.

Managerial Philosophies

Sets of beliefs and principles that guide the decision-making and leadership styles of managers.

Corporate Priorities

Corporate priorities are the strategic objectives and goals that a company sets to guide its operations, decision-making, and resource allocation.