In the short run, the firm's total cost equals:
A. the total fixed costs + the total variable costs.
B. the average fixed costs + average variable costs.
C. the average fixed cost + the marginal cost.
D. the total variable costs only.
Answer: A
You might also like to view...
Countries with a relatively high stock of skilled labor will have a comparative advantage in producing goods that require relatively larger quantities of skilled labor
a. True b. False Indicate whether the statement is true or false
Patents grant their owners
a. a property right to new products and production processes that they have developed. b. the exclusive right to use a newly developed process or product forever. c. the right to use resources owned by their competitors. d. an exemption from laws that prohibit price discrimination.
In the United States, controlling inflation is the primary job of ______.
a. the Department of Labor b. the Federal Reserve System c. Congress d. the Bureau of Labor Statistics
Refer to the graph shown. Which of the curves represents an inverted yield curve?
A. A B. B C. C D. D