Table 9-1 Table 9-1 Shows the Short-Run Cost Data of a Perfectly

question 232

Multiple Choice

Table 9-1
$\begin{array}{|c|c|c|}\hline \text { Quantity } & \begin{array}{c}\text { Total Cost } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Variable Cost } \\\text { (dollars) }\end{array} \\\hline 0 & \$ 1,000 & \$ 0 \\\hline 100 & 1,360 & 360 \\\hline 200 & 1,560 & 560 \\\hline 300 & 1,960 & 960 \\\hline 400 & 2,760 & 1,760 \\\hline 500 & 4,000 & 3,000 \\\hline 600 & 5,800 & 4,800 \\\hline\end{array}$ Table 9-1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units.
-Refer to Table 9-1.What is the fixed cost of production?

• A) $0
• B) $500
• C) $1,000
• D) It cannot be determined.

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Definitions:

Organizational Behavior

A field of study focused on understanding, explaining, and improving attitudes of individuals and groups in organizations.

Motivation Process

The psychological mechanisms that drive individuals towards achieving goals, fulfilling needs, or changing behaviors.

Maintained

Kept in an existing state or preserved from failure or decline.

Maslow's Hierarchy

A psychological theory proposed by Abraham Maslow that categorizes human needs into a five-tier model, in ascending order: physiological, safety, love/belonging, esteem, and self-actualization.