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Question
Vanessa owns a horse ranch. Her total costs are $550,000 per year, and her fixed costs are $205,000 per year. This means that her variable costs are
a. $550,000.
b. $205,000.
c. $345,000.
d. $755,000.
e. $108,000.
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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