________________Costs Remain Constant in Total (Over the Relevant Range) as the Volume

question 52

Multiple Choice

________________costs remain constant in total (over the relevant range) as the volume of production changes.

• A) Indirect
• B) Variable
• C) Fixed
• D) Direct

---

Definitions:

Positive Externality

A benefit that affects a party who did not choose to incur that benefit, often leading to underproduction of the good or service in absence of intervention.

Education

The systematic process of facilitating learning, acquiring knowledge, skills, values, and attitudes.

Positive Externality

A benefit that affects a party who did not choose to incur that benefit, typically not reflected in the market price, like vaccination.

Government Agency

A permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions.