Academic book publishers hire editors, designers, and production and marketing managers who help prepare books for publication.
Because these employees work on several books simultaneously, the number of people the company hires will not go up and down with the quantity of books the company publishes during any particular year. The salaries and benefits of people in these job categories will be included in
A) fixed cost but not variable cost and total cost.
B) fixed cost and marginal cost but not variable cost.
C) fixed cost and total cost but not variable cost.
D) marginal cost and total cost but not fixed cost.
Question 2
A monopolistically competitive firm will
A) always produce at the minimum efficient scale of production.
B) have some control over its price because its product is differentiated.
C) produce an output level that is productively and allocatively efficient.
D) charge the same price as its competitors do.
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