Which of the following is most likely to be a variable cost? a) Real estate taxe

Question

Which of the following is most likely to be a variable cost?
a) Real estate taxes
b) Rental payments of IBM equipment
c) Interest on bonded indebtedness
d) Fuel and power payments

Which of these statements 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 these is false

In the short run, _______
a) All costs are fixed costs
b) All costs are variable costs
c) Some costs are fixed costs
d) All costs are marginal costs

A firm has a fixed cost of $100,000, and variable cost is $90,000 at what output of one. How much marginal cost at an output of one?
a) 10,000
b) 90,000
c) 100,000
d) 190,000
e) There is insufficient information to answer the question

Explanation / Answer

b) Rental payments of IBM equipment c) When output is zero, total cost is zero. b) All costs are variable costs c) 100,000

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