The Table Given Below Shows the Total Fixed and Variable

question 38

Multiple Choice

The table given below shows the total fixed and variable costs of a firm. Table 21.3
If the firm described in Table 21.3 decides to produce nothing, which of the following would be true?

• A)Total cost will become zero.
• B)Total variable cost will become $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:

Legal Sufficiency

The adequacy of evidence in meeting legal standards to support a finding or conclusion in a legal proceeding.

Bargained-For-Exchange

A fundamental concept in contract law that requires each party to provide something of value to the other for a contract to be valid.

Statutorily Enforceable

Refers to rights or obligations that are created, recognized, and enforced through specific statutes or laws enacted by a legislative body.

Past-Due

Referring to a payment or obligation that has not been met by its deadline.