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Question
Selene owns a craft store. Her total costs are $1.2 million per year, and her variable costs are $750,000 per year. This means that her fixed costs are
a. $1.2 million.
b. $750,000.
c. $450,000.
d. $300,000.
e. $1.95 million.
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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