A. total fixed cost only.
B. total variable costs only.
C. both total variable costs and total costs.
D. total costs only
Related Mcqs:
- The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?
A. At their lowest points
B. When they are declining
C. When they are increasing
D. When marginal revenue is zero - In the short run, the supply of capital is ________ and in the long run will depend on _______?
A. variable, technology
B. fixed, expectations
C. fixed, rental rate of capital
D. variable, interest rates - Suppose the economy is initially in long run equilibrium Then suppose there is a drought that destroys much of the wheat crop if policymakers allow the economy to adjust to long-run equilibrium on its own, according to the model to aggregate demand and aggregate supply what happens to prices and output in the long run ?
A. Output rises; prices are unchanged from the initial value
B. Output and the price level are unchanged from their initial values
C. Output falls; prices are unchanged from the initial value
D. Prices fall; output is unchanged from its initial value - Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the short run ?
A. Price fall; output rises
B. Price fall; output falls
C. Price rise; output fall
D. Price rise; output rise - Suppose the economy is initially is long run equilibrium Then suppose there is a drought that destroys much of the wheat crop According to the model of aggregate demand and aggregate supply, what happens of prices and output in the short run ?
A. Price rise; output falls
B. Price fall; output rises
C. Price rise; output rises
D. Price fall; output falls - Short-run equilibrium output means that aggregate demand __________ actual output?
A. is less than
B. equals
C. is greater than
D. fluctuates around - For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?
A. SMC, LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC below SAVC, LMC bellow LAC - Suppose the economy is initially in long-run equilibrium Then suppose there is an increase in military spending due to rising international tensions According to the model of aggregate demand and aggregate supply what happens to prices and output in the long run ?
A. Output falls; prices are unchanged from the initial value
B. Price fall; output is unchanged from its initial value
C. Output and the price level are unchanged from their initial values
D. Prices rise; output is unchanged from its initial value - In the short run a firm will produce zero output if ?
A. price is greater than short run average total cost
B. price is between short run average total cost and short run average variable cost
C. price is less than short run average variable cost
D. profit is zero - Short run average total costs are equals to the sum of ____ and _____?
A. Short run opportunity costs, profit
B. Short run variable costs, profit
C. Short run average variable costs, profit
D. Short run average variable costs, profit run average fixed costs
