If fixed costs do not change, then marginal cost
A) equals the change in variable cost divided by the change in output.
B) also remains constant.
C) equals the change in average fixed cost divided by the change in output.
D) equals the change in average variable cost divided by the change in output.
A
You might also like to view...
Changes in the health of the average person are relatively unimportant as an indicator of changes in the standard of living
Indicate whether the statement is true or false
At the international level, the division of labor increases output through
a. tariffs. b. economies of scale. c. standardization. d. exchange rates.
The HeckscherOhlin model assumes that factors of production can move freely _______, but cannot move _______.
a. domestically; internationally b. after they are fully trained; before the training period is over c. internationally; domestically d. within unskilled occupations; into highskill jobs
The classical economists believed that recessions were ____________.
Fill in the blank(s) with the appropriate word(s).