Total variable cost
A) increases as output increases.
B) does not change as output changes.
C) decreases as output increases.
D) initially decreases and then increases as output increases.
A
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Our basket contains just one item: the Big Mac hamburger, which is pretty much the same around the world." The Economist, July 28, 2012 Which principle is The Economist relying on when using the Big Mac to value exchange rates? A) interest rate parity B) market price parity C) purchasing power parity D) exchange rate parity
Which of the following is a property of a public good?
a. A public good is free from externalities. b. Many individuals benefit simultaneously. c. A public good is not subject to free riders. d. A public good is established by law.
According to economist Joseph Schumpeter, technological advance is more likely to occur in a monopoly than in perfect competition
Indicate whether the statement is true or false
In the short run:
A. some inputs are variable and some inputs are fixed. B. no inputs are variable and all inputs are fixed. C. some inputs are variable and no inputs are fixed. D. no inputs are variable and some inputs are fixed.