If fixed cost at Q = 100 is $130, then
a. fixed cost at Q = 0 is $0
b. fixed cost at Q = 0 is less than $130
c. fixed cost at Q = 200 is $260
d. fixed cost at Q = 200 is $130
e. it is impossible to calculate fixed costs at any other quantity
D
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When external costs are present,
A) competitive, unregulated markets are efficient. B) transaction costs will be high. C) a tax might be able to create efficiency. D) property rights have already been established.
Productive activity in the underground economy:
a. results in an overstatement of actual income and production in the national accounting system. b. consists of unrecorded cash transactions. c. is estimated and included in the national income accounting system. d. poses no problem for the measurement of gross domestic product. e. does not affect GDP but is included in the value-added computations.