MCQOPTIONS
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| 1. |
Which statement is False ? |
| A. | Fixed costs are zero if the firms is producing nothing. |
| B. | Fixed costs are the difference between total costs and total variable costs |
| C. | There are no fixed costs in the long run |
| D. | Fixed costs do not depend on the firm’s level of output |
| Answer» B. Fixed costs are the difference between total costs and total variable costs | |