Bill is an accountant for a small machine shop. His boss has asked him to calculate the shop's total fixed cost. Which method will give Bill the correct answer?
a. subtracting marginal cost from total cost
b. calculating the product of average total cost and quantity
c. determining what the shop would pay for if they produced zero output
d. adding the total variable cost to the total cost
e. subtracting total variable cost from total revenue
C
You might also like to view...
United States Government Source of Funds and Outlays, Fiscal 2011
What will be an ideal response?
The three important functions of money are _____
a. medium of exchange, facilitation of trade, and unit of account b. unit of account, facilitation of trade, and store of value c. store of value, facilitation of trade, and double coincidence of wants d. facilitation of trade, medium of exchange, and unit of account e. medium of exchange, unit of account, and store of value