Variable costs are zero when quantity is zero because variable costs ______.
a. are the same regardless of output
b. are not incurred without production
c. are not used to calculate total costs
d. are implicit and cannot be quantified
b. are not incurred without production
Economics
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If the FOMC decides to engage in the selling of government bonds, what is the effect on the money supply?
A) a decrease B) an increase C) an initial increase followed by an additional rise when the bonds mature D) no change
Economics
Consider the monopsony in the above figure. The 200th hour of labor creates how much added revenue per hour for the monopsony?
A) $10 B) $15 C) $20 D) None of the above answers is correct.
Economics