Which of the adhering to constitutes an implicit cost to the Johnston Manufacturing company?A. Payments of wages to its office workersB. Rent phelp for the usage of devices owned by the Schultz Machinery Company type of C. Depreciation charges on company-owned devices D. Economic revenues resulting from existing production


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An explicit price is:A. Omitted as soon as accounting earnings are calculatedB. A money payment made for sources not owned by the firm itselfC. An implicit expense to the reresource owner that receives paymentD. Almethods in excess of a resource"s possibility cost
The basic characteristic of the brief run is that: A. Barriers t enattempt proccasion brand-new firms from entering the market B.The firm does not have adequate time to change the size of its plantC.The firm does not have sufficient time to reduced its rate of output to zero
If the total variable price of 9 systems of output is $90 and the full variable expense of 10 systems of output is $120, then:A.The average variable price of 10 systems is $10B.The average variable expense of 9 systems is $10C.The marginal price of the tenth unit is $90D.The firm is operating in the array of raising marginal returns
A fixed price is:A. Associated via any fertile reresource whose price is fixedB. Any cost which increases proportionately through output C. Any price which a firm would incur also if output was zeroD. Associated via all inputs whose short-run supply is perfectly inelastic
Average resolved cost:A. Equals marginal expense as soon as average total expense is at its minimum B. May be uncovered for any output by including average variable price and average total expense C. Graphs as a U-shaped curveD. Declines continually as output increases
When complete product is increasing at a boosting rate, marginal product is:A. Hopeful and also raising B. Positive and decreasing C. Constant D. Negative
Which of the following is a lot of most likely to be a fixed cost?A. Shipping charges B. Property insurance premiums C. Weras for unprofessional labor D. Expenditures for raw materials
Which of the following is many most likely to be a variable cost?A. Fuel and also power payments B. Interemainder rates on organization loans C. Rental payments on IBM tools D. Real estate taxes
The vertical distance in between ATC and also AVC reflects:A. The law of diminishing retransforms B. The average resolved expense at each level of outputC. Marginal expense at each level of outputD. The visibility of economies of scale
Assume that in the brief run a firm is producing 100 devices of output, has actually average complete costs of $200, and average variable prices of $150. The firm"s full fixed expenses are:A. $5000B. $500C. $.50D. $50
If a firm decides to develop no output in the short run, its prices will certainly be:A. Its marginal prices B. Its resolved plus its variable costs C. Its addressed D. Zero
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