Total cost of production refers to the:
A) sum of variable costs and fixed costs.
B) product of variable costs and fixed costs.
C) difference between variable costs and fixed costs.
D) ratio of variable costs to fixed costs.
A
You might also like to view...
No currency ever appreciated or depreciated under the Bretton Woods system as it was based on a system of fixed exchange rates
a. True b. False Indicate whether the statement is true or false
If marginal costs are rising
A) total fixed costs are falling B) average fixed costs are constant. C) average fixed costs are rising D) none of these choices.
Assume that Joe is willing to produce a hamburger for $1, and Mary is willing to pay $3 for a hamburger. Which of the following is true?
A. Joe and Mary will only trade if the equilibrium price is less than $1. B. Joe and Mary will not trade in equilibrium. C. Joe and Mary can make a mutually beneficial exchange. D. Joe and Mary cannot make a mutually beneficial exchange.
The NFL Ticket Exchange is an attempt by the NFL
A. to extend its monopoly in the primary ticket market to the secondary market. B. to capture profits made in the secondary market. C. to appear to charge lower ticket prices while effectively charging higher prices. D. all of these.