A. be flat (horizontal)
B. slope upward
C. slope downward
D. be U-shaped.
Average And Total Cost
Average And Total Cost
A. average fixed cost is rising
B. average total cost is falling
C. average total cost is raising
D. average total cost is minimized
A. All costs are fixed in the short run.
B. All costs are variable in the long run
C. All costs are variable in the short run
D. All costs are fixed in the long run
A. is linear (a straight line)
B. becomes steeper as the quantity of the input increase
C. could be any of these answers
D. becomes flatter as the quantity of the input increase
A. Rs80,000
B. Rs30,000
C. Rs75,000
D. Rs70,000
A. variable costs
B. implicit costs
C. explicit costs
D. marginal costs
A. average fixed cost
B. average total cost
C. average variable cost
D. marginal cost
A. an increase in average total costs
B. diseconomies of scale
C. economies of scale
D. constant returns to scale
A. average total cost is falling
B. average total cost is raising
C. average total cost is maximized
D. average total cost is minimized
A. rent on the factory
B. wages paid to factory labor
C. interest payments on borrowed financial capital
D. payments on the lease for factory equipment
E. salaries paid to upper management
