A Teenaged Babysitter Is Similar to a Firm in a Perfectly

Question 260
Multiple Choice

A teenaged babysitter is similar to a firm in a perfectly competitive industry in that,for both, A) fixed costs are lower than variable costs. B) there are many other suppliers of similar goods or services. C) the implicit costs of production exceed the explicit costs of production. D) average costs of production do not change when their industry expands.