Average And Total Cost

A. is liner (a straight line)
B. could be any of these answers
C. becomes steeper as the quantity of output increases
D. become flatter as the quantity of output increases.

A. accounting profit will exceed economic profit
B. economic profit will always be zero
C. economic profit will exceed accounting profit
D. accounting profit will always be zero
E. economic profit and accounting profit will be equal

A. Rs30,000
B. Rs35,000
C. Rs75,000
D. Rs70,000

A. implicit costs
B. variable costs
C. the sum of implicit and explicit costs.
D. explicit costs.
E. marginal costs