143.6 a. 22.6 percent. Net Income e. None of the above. Fixed cost, by definition, is the cost of producing one more unit of output. The Agricultural Credit Act of 1987 merged the Federal Land Banks and the Bank for Cooperatives into 1 entity called the Farm Credit Bank.
Collusion occurs when firms get together to set prices and divide up a market.
A price ceiling on a good can cause a surplus in the market. Fixed costs have no influence in determining the optimal output level for a firm. By definition, a monopoly is larger than a firm in pure competition either in its total value of assets owned or in its total value of output. Explain why all costs are variable in the long-run, and give an example or two. Explain why deregulation of the electric industry might be bad for Idaho consumers but good for electric consumers in the east.