Multiple Choice
Sunk costs should be ignored in decision making because they
A) increase the cost of the transaction
B) lead to an increase in the opportunity cost of any decision
C) have already been paid
D) often exceed marginal and average costs
E) are usually negligible when compared with the explicit costs of decisions
Correct Answer:
Verified
Correct Answer:
Verified
Q49: Average total cost is<br>A)the change in cost
Q50: Total cost is<br>A)fixed cost plus variable cost<br>B)irrelevant
Q51: The change in total output when one
Q52: If Papagna's Pizza Parlor knows that the
Q53: If firms in a market have been
Q55: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -In Figure 7-4,marginal
Q56: If the marginal product of labor is
Q57: Marginal cost is<br>A)the increase in total cost
Q58: If a firm increases its output level
Q59: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 7-8 shows