Total Variable Cost (TVC)
What will be an ideal response?
Depend on output expidentures on 'variable' inputs the Q of which changes with output (hired labor, raw materials, utilities)
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Investment spending accounts for nearly 60 percent of U.S. GDP.
Answer the following statement true (T) or false (F)
When playing a game, a pure strategy refers to
A) a strategy that does not allow any players to cheat. B) the best possible strategy that can be played, given other players' strategies. C) using the same strategy time after time. D) the only possible winning strategy.
Average variable cost for an information product would
A. increase constantly as quantity increases. B. first decrease and then increase as quantity increases. C. remain constant as quantity increases. D. decrease constantly as quantity increases.
An increase in money supply causes the real interest rate to ________ and the price level to ________ in general equilibrium.
A. remain unchanged; fall B. rise; rise C. fall; fall D. remain unchanged; rise