Which of the following is an example of a fixed cost for a fishing company?
a. The cost of hiring a fishing crew.
b. The monthly loan payment on the boat.
c. The supply of nets, hooks, and fishing lines.
d. The fuel costs of running the boat.
b
You might also like to view...
To simplify our consumption models, suppose U.S. consumers only purchase food and all other goods where food is plotted along the horizontal axis of the indifference map. If the U.S
Congress passes an economic stimulus package that pays $300 to each person, how does this affect the budget line for each consumer? A) Makes the budget line steeper B) Makes the budget line flatter C) Parallel outward (rightward) shift D) Parallel inward (leftward) shift E) none of the above
The table below shows the number of labor hours required to produce one gallon of wine and one pound of cheese in the United States and France. If the United States and France engage in free trade with each other, the international price of cheese will lie between ________ and Labor hours to make:In the United StatesIn France1 gallon of wine4.001.001 pound of cheese1.002.00
A. two gallons of wine per pound; four gallons of wine per pound. B. 0.5 gallon of wine per pound; one gallon of wine per pound. C. 0.25 gallon of wine per pound; two gallons of wine per pound. D. one gallon of wine per pound; four gallons of wine per pound.