For a hotdog vendor, the hotdog buns represents his
A. variable input.
B. sunk cost.
C. fixed input.
D. none of these.
Answer: A
Economics
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Why is collusion more likely in cases of oligopoly than in perfect competition?
a. In oligopoly, all firms sell an identical product; but in perfect competition, the product varies between producers. b. There are too many firms in perfect competition to allow for collusion. c. Oligopoly moves towards an equilibrium outcome; perfect competition does not. d. Perfect competition moves toward an equilibrium outcome; oligopoly does not
Economics
A tax increase of $250 will exactly offset a $250 increase in government purchases, leaving aggregate demand unaffected.
Answer the following statement true (T) or false (F)
Economics