A Cost That Remains Stable at Any Production Level Within

question 138

Multiple Choice

A cost that remains stable at any production level within a certain range is called a(n) _____ cost.

• A) variable
• B) fixed
• C) average total
• D) marginal

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Definitions:

Leisure Time

Free time that an individual can use for relaxation, recreation, or personal pursuits, not consumed by work or essential domestic activities.

Multiple Counting

In economics, it refers to the error of counting the same product or value more than once when calculating gross domestic product.

Psychic Costs

The mental and emotional energy expended by an individual in the process of decision-making or as a result of stressful economic conditions.

Real GDP

The measure of the value of economic output adjusted for price changes (inflation or deflation), reflecting the real quantity of goods and services produced.