Question: Which statement is false? a) When the firm shuts down, output is zero. b) When variable cost is zero, output is zero. c) When output

Which statement is false?

a) When the firm shuts down, output is zero.

b) When variable cost is zero, output is zero.

c) When output is zero, total cost is zero.

d) None of the above.

Step by Step Solution

★★★★★

3.31 Rating (151 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

The false statement is c When output is zero total cost is zero Explanation W... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Microeconomics Questions!

Q:

When an animal learns to do a behavior after a neutral stimulus has occurred in order to avoid an aversive unconditioned stimulus, we call this: a) Free operant avoidance b) discriminated avoidance...

Q:

When airlines sell attractions and ground transportation services for a commission, who are their main competitors? Group of answer choices Other airlines Other third parties The ground transport and...

Q:

A man and woman are walking in the woods, and they hear a coyote howl in the distance. This is an example of... Group of answer choices Synchronous Sound Asynchronous Sound Nonsynchronous Sound None...

Q:

A) Choose the correct answer. S-3 i) When an economist uses the term "cost" referring to a firm, the economist refers to the A) explicit cost of producing a good or service. B) price of the good to...

Q:

1. An increase in the price of tea will have which effect in the market for coffee? (Assume that coffee and tea are substitutes). a) an increase in both price and quantity exchanged. b) a reduction...

Q:

13. If output rises from 123 units to 143 units as another worker is hired, and the additional worker receives $15 in wages, it follows that marginal cost is a. $20.00 $1.33 $0.75 $15.00 e. none of...

Q:

QUESTION 1 A monopolistically competitive market has characteristics that are similar to a. both a monopoly and a competitive firm. b. a competitive firm only. c. neither a monopoly nor a competitive...

Q:

Need solutions for this ECON 1900 Due on Moodle Tuesday March 22 at 1 1 pm. A perfectly competitive firm has two inputs, capital and labour. Capital is fixed in the short run and costs $120 per day....

Q:

refer to the pictures below View Go Tools Window Help 100% 47 Module 4-Production and cost Perfect competition - .._.pdf (page 1 of 4) ~ Q Question 3: (1 point) Suppose that a firm has a fixed plant...

Q:

42. Of the following, which sector 46. For any pair of variables X and Y, experienced maximum growth rate two regression equations-one at 2004-05 prices in India during regression of Y on X and other...

Q:

TRANSMITTANCE a. Label the absorptions in the IR spectrum of 1-pentanol. Start with drawing the structure of 1-pentanol. For C-H bonds, be specific (hybridization of carbon). Use the IR handout....

Q:

Assume the same information as for Problem 11-44, except that the $40 fixed manufacturing overhead consists of $15 per unit batch related costs and $25 per unit facilities level fixed costs. Also,...

Q:

MC . 0 3 . 0 5 5 If the CEO of a large, diversified, firm were filling out a fitness report on a division manager ( i . e . , "grading" the manager ) , which of the following situations would be...

Q:

Four strategies used to forecast internal HR supply are Markov analysis, skills and management inventories, replacement charts and summaries, and succession planning. Forecasting external HR supply...

Q:

Using supply-and-demand diagrams, show the effect of the following events on the market for sweatshirts. a. A hurricane in South Carolina damages the cotton crop. b. The price of leather jackets...

Q:

Ketchup is a complement (as well as a condiment) for hot dogs. If the price of hot dogs rises, what happens to the market for ketchup? For tomatoes? For tomato juice? For orange juice?

Q:

The market for pizza has the following demand and supply schedules: a. Graph the demand and supply curves. What is the equilibrium price and quantity in this market? b. If the actual price in this...

Q:

Write a single statement that reads a double precision floating point number from the keyboard

Q:

If $2,000,000 of 10% bonds are issued at 93, the amount of cash received from the sale is a. $2,046,000 b. $2,000,000 c. $1,860,000 d. $1,674,000

Q:

1. What do we mean by independence and how can a CPA demonstrate independence? 2. Why can't the external auditor also be the internal auditor for a public company who has to comply with SOX?