Homework Clinic
Social Science Clinic => Economics => Topic started by: kodithompson on Jun 29, 2018
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After constructing a new factory, the cost of building the factory is a
A) past cost.
B) sunk cost.
C) variable cost.
D) None of the above answers are correct.
Question 2
In the above figure, at point b on the demand curve, a price cut of one dollar will
A) increase total revenue.
B) decrease total revenue.
C) leave total revenue unchanged.
D) have an indeterminate effect on total revenue.
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Answer to Question 1
B
Answer to Question 2
A