Which of the following best describes total fixed cost?
a. The change in total cost when one additional unit of output is produced.
b. Total cost divided by the quantity of output produced
c. Total variable cost divided by the quantity of output produced.
d. Total fixed cost divided by the quantity of output produced.
e. Costs that do not vary as output varies.
e
Economics
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When firms price based on the packaging of several products, they are
A) using a limit price. B) predatory in their marketing. C) bundling. D) none of these choices.
Economics
The law of demand states that as the price
a. increases, total quantity demanded will increase. b. decreases, total quantity demanded will decrease. c. increases, total quantity demanded will decrease. d. increases, total quantity demanded will stay the same.
Economics