A Ski Instructor Who Is Laid Off from Their Job

question 86

Multiple Choice

A ski instructor who is laid off from their job at Mount Hotham over summer would be considered:

• A) frictionally unemployed.
• B) structurally unemployed.
• C) cyclically unemployed.
• D) seasonally unemployed.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or the volume of services provided.

Special Order

An order for goods or services that is outside the company's normal scope of products or services, often requiring special pricing or terms.

Incremental Costs

The additional costs that are incurred if a certain decision is made or an action is taken.

Incremental Revenue

Additional income received from increasing business activities or sales volumes, often analyzed to decide on new projects or expansions.