_______________ —a term referring to the government practice of enacting laws to regulate prices instead of letting market forces determine prices.

In the long run, fixed costs are

A) sunk. B) avoidable. C) larger than in the short run. D) not included in production decisions.

Total cost includes:

A. one-time expenses and ongoing expenses. B. forgone opportunity costs. C. the amount the firm spends on all inputs that go into the production of a good or service. D. All of these are true.