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Author Question: Adam spent 10,000 on new equipment for his small business, Adam's Fitness Studio. Membership at his ... (Read 200 times)

folubunmi

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Adam spent 10,000 on new equipment for his small business, Adam's Fitness Studio. Membership at his fitness center is very low and at this rate, Adam needs an additional 12,000 per year to keep his studio open. Which of the following is true
 
  A) The fixed cost of running the studio is 22,000.
  B) The 10,000 Adam spent on equipment is the total cost of starting the business and the 12,000 he'll need to continue operations is a marginal cost.
  C) The variable cost of running the studio is 22,000.
  D) The 10,000 Adam spent on equipment is a fixed cost of business and the 12,000 he'll need to continue operations is a variable cost.

Question 2

In the short run, if price falls below a firm's minimum average total cost, the firm should shut down.
 
  Indicate whether the statement is true or false


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shayla

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folubunmi

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Reply 2 on: Jun 29, 2018
Excellent


zacnyjessica

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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