Note AcademyNote Academy
Start

Economics · Oct / Nov 2018 · Paper 13 · Question 15

2281Firms’ costs, revenue and objectives

Which statement about total fixed cost is correct?

  1. AIt falls as output increases.
  2. BIt is calculated by adding total cost and total variable cost.
  3. CIt is calculated by dividing total cost by output.
  4. DIt must be paid even if output is zero.

As printed in the paper

Show the answer

Correct answer: D. It must be paid even if output is zero.

Sit this whole paper →More on Firms’ costs, revenue and objectives

Make a free account to save your answers and see your weak topics and ask the AI why a wrong answer is wrong.