Which of the following would NOT be considered a fixed cost of production?
A) wages paid to labor
B) the opportunity cost of capital
C) interest payments on a loan
D) insurance payments on plant and equipment
Correct Answer:
Verified
Q158: Q159: Describe the concept of the production function. Q160: As long as marginal product of labor Q161: As a firm increases the level of Q162: Which of the following statements about a Q164: Suppose that a firm is currently producing Q165: Average fixed costs will Q166: Suppose that when the level of output Q167: Suppose that a firm is currently producing Q168: The firm's short-run costs contain
A) rise as output
A) only variable
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