Bill owns Bill's Home of Blues a store that specializes in ...

[cagreen833]

Bill owns Bill's Home of Blues a store that specializes in selling CDs and DVDs of blues musicians of the 1960s and 1970s. Bill took out a loan from his bank to pay for his store and its initial inventory.
 
  Bill pays the bank 900 per week for his loan. The 900 bank payment
  A) is a short-run implicit cost. B) is a fixed cost.
  C) is a variable cost. D) is a long-run implicit cost.

Question 2

In monopolistic competition, if a firm produces a highly desirable product relative to its competitors, the firm will be able to raise its price without losing any customers.
 
  Indicate whether the statement is true or false

[Jsherida]

Answer to Question 1

B

Answer to Question 2

FALSE