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Question
Igor owns a movie theater. His total costs are $150,000 per year, and his fixed costs are $65,000. This means that his variable costs are
a. $65,000.
b. $150,000.
c. $85,000.
d. $235,000.
e. $70,000.
Answer
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Related questions
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Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
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