[单选] The graph illustrates a typical
A. total-cost curve.
B. production function.
C. production possibilities frontier.
D. fixed-cost curve.
[单选] The changing slope of the total cost curve reflects
A. decreasing average variable cost.
B. decreasing average total cost.
C. decreasing marginal product.
D. increasing fixed cost.
[单选]Which of the following costs of publishing a book is a fixed cost?
A. author royalties of 5% per book
B. the costs of paper and binding
C. shipping and postage expenses
D. composition, typesetting, and jacket design for the book
[单选]Suppose Jan started up a small lemonade stand business last month. Variable costs for Jan's lemonade stand now include the cost of
A. building the lemonade stand.
B. hiring an artist to design a logo for her sign.
C. lemons and sugar.
D. All of the above are correct.
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