Multiple Choice
For a large firm that produces and sells automobiles, which of the following costs would be a variable cost?
A) The $20 million payment that the firm pays each year for accounting services
B) The cost of the steel that is used in producing automobiles
C) The rent that the firm pays for office space in a suburb of St.Louis
D) The cost of internet advertising incurred each year
Correct Answer:

Verified
Correct Answer:
Verified
Q182: Economists include both explicit and implicit costs
Q183: The opportunity cost of capital is an
Q184: Average variable cost is equal to total
Q185: Diminishing marginal productivity implies decreasing total product.
Q186: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7555/.jpg" alt=" -Refer to Table
Q188: Figure 13-6<br>The following figure depicts average total
Q189: Economists and accountants usually disagree on the
Q190: Which of the following explains why long-run
Q191: Figure 13-6<br>The following figure depicts average total
Q192: If the average-total-cost of producing five units