In economics, the term "fixed costs" means
A) costs that do not vary with the level of output produced.
B) implicit costs.
C) costs incurred in the past that involve no implicit costs.
D) costs that are never accounted for.
E) opportunity costs.
Ans: A) costs that do not vary with the level of output produced.
Economics
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a. True b. False
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The noise inflicted on bystanders by users of chain saws, lawn mowers, and motorcycles is an example of
a. a positive externality b. a public good c. nonexcludability d. marginal private benefit exceeding marginal social benefit e. marginal social cost and the free-rider problem
Economics