The average fixed cost curve
A) is always positively sloped.
B) is U-shaped.
C) has an upside-down U shape.
D) is always negatively sloped.
E) is horizontal.
D
You might also like to view...
Unexpected increases in inventories usually precede
A) increases in inflation B) increases in imports C) stagflation D) decreases in production E) decreases in unemployment
Sam quits his job as an airline pilot and opens his own pilot training school. He was earning $40,000 as a pilot. He withdraws $10,000 from his savings where he was earning 6 percent interest and uses the money in his new business. He uses a building he owns as a hangar that he could have rented out for $5,000 per year. He rents a computer for $1,200, buys office supplies for $500, rents an
airplane for $6,000 . pays $1,300 for fuel and maintenance, and hires one worker for $30,000 . Sam's total revenue from pilot training classes equaled $90,400 . Sam's implicit costs for this year are equal to a. $84,400 b. $39,000 c. $55,000 d. $45,600 e. $40,000