Short-run costs that depend on the level of output are
A. total fixed cost only.
B. total costs only.
C. total variable costs only.
D. both total variable costs and total costs.
Answer: D
Economics
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A payment that a person receives from the government for engaging in a particular activity is called a
A) bribe. B) subsidy. C) consumer surplus. D) tariff.
Economics
Which of the following statements about a circular flow model is false?
A) Producers are buyers in the factor market and sellers in the product market. B) Households are neither buyers nor sellers in the input market. C) Households are buyers in the product market. D) Producers are buyers in the factor market.
Economics