________ is a cost that changes with the quantity produced by the firm and is incurred by the firm in the short run.
A. Fixed cost
B. Economic cost
C. Variable cost
D. Average total cost
Answer: C
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If a public good was left to be provided by the private sector
A) more than the efficient quantity would be produced. B) less than the efficient quantity would be produced C) the efficient quantity would be produced D) the good would be provided at a very low price.
India and China represent a great opportunity for U.S. companies because they have
As the tax wedge associated with a given economic activity gets smaller, we would expect
A) more of that economic activity to occur. B) people to engage in less of that particular activity. C) the distortions caused by taxes on that activity to be greater. D) no change in the practice of that activity until the tax wedge ultimately disappears.
Including younger Americans from the age of _____, almost half of Americans report they currently use alcohol
a. 12 b. 14 c. 15 d. 18 e. 21