Chuck owns a factory that produces leather footballs. His total fixed cost equaled $86,000 last year. His total cost equaled $286,000 last year. Hence Chuck's
A) total variable cost was zero.
B) incurred an economic loss.
C) total variable cost equaled $200,000.
D) total variable cost equaled $372,000.
E) None of the above answers is correct.
C
Economics
You might also like to view...
Which of the following is an example of a physical capital?
A) A factory B) A worker C) A stock D) A bond
Economics
If the interest rate rises in the United States relative to other nations, then in the foreign exchange market the demand for dollars ________ and the supply of dollars ________
A) does not change; does not change B) increases; increases C) increases; decreases D) decreases; decreases E) decreases; increases
Economics