Which of the Following Statements Is (Are)correct

question 68

Multiple Choice

Which of the following statements is (are) correct?

• A)Relative to some other scientists,economists find it more difficult to conduct experiments.
• B)Theory and observation are important in economics as well as in other sciences.
• C)To obtain data,economists often rely upon the natural experiments offered by history.
• D)All of the above are correct.

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Definitions:

Fixed Expenses

Costs that do not fluctuate with the level of production or sales, such as rent and salaries.

Contribution Margin

The amount remaining from sales revenue after variable costs are deducted, indicating the capability of covering fixed costs and generating profit.

Variable Manufacturing Costs

Costs that vary in total directly and proportionately with changes in the production volume, including direct materials, direct labor, and variable manufacturing overhead.

Selling Commission

A fee paid to a salesperson or agent for facilitating a sale, typically a percentage of the sale price.