Use the following to answer questions : $$\begin{array}{l}
\text { Table: Total Cost Data }\
\begin{array} { c c c }
\hline \begin{array} { c }
\text { Quantity of } \
\text { Output }
\end{array} & \begin{array} { c }
\text { Variable } \
\text { Cost } \
( \text { VC) }
\end{array} & \begin{array} { c }
\text { Total Cost } \
( \boldsymbol { T C } )
\end{array} \
\hline 0 & \$ 0 & \$ 50 \
1 & 50 & 100 \
2 & 70 & 120 \
3 & 100 & 150 \
4 & 140 & 190 \
5 & & 240 \
6 & 250 & 300 \
7 & 320 & 370 \
\hline
\end{array}
\end{array}$$
-A fixed cost:
A) will exist only in the long run.
B) depends on the level of output.
C) is positive,even if the firm doesn't produce any output in the short run.
D) decreases until the point of diminishing returns is reached.

Question

Use the following to answer questions : $$\begin{array}{l}
\text { Table: Total Cost Data }\
\begin{array} { c c c } 
\hline \begin{array} { c } 
\text { Quantity of } \
\text { Output }
\end{array} & \begin{array} { c } 
\text { Variable } \
\text { Cost } \
( \text { VC) }
\end{array} & \begin{array} { c } 
\text { Total Cost } \
( \boldsymbol { T C } )
\end{array} \
\hline 0 & \$ 0 & \$ 50 \
1 & 50 & 100 \
2 & 70 & 120 \
3 & 100 & 150 \
4 & 140 & 190 \
5 & & 240 \
6 & 250 & 300 \
7 & 320 & 370 \
\hline
\end{array}
\end{array}$$
-A fixed cost:
A) will exist only in the long run.
B) depends on the level of output.
C) is positive,even if the firm doesn't produce any output in the short run.
D) decreases until the point of diminishing returns is reached.

Quizplus · Accepted Answer

Fixed costs are costs that do not change with the level of output and are incurred even if the firm produces no output, as shown by the total cost of $50 when output is zero.

Use the Following to Answer Questions -A Fixed Cost: A) Will Exist Only in the Long

Use the Following to Answer Questions -A Fixed Cost:
A) Will Exist Only in the Long