What is the relationship between marginal cost and fixed cost?
What will be an ideal response?
There is no relationship between marginal cost and fixed cost. Marginal cost examines the change in total costs from a change in output. Fixed costs remain the same even when output changes.
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In economics, normative statements are about
A) the way things ought to be. B) the way things are. C) marginal benefits, not marginal costs. D) marginal costs, not marginal benefits.
Under the U.S. Constitution, each state gave up its right to issue money, borrow, levy taxes and regulate the value of money on behalf of national efforts
Indicate whether the statement is true or false
The quantity theory of money assumes that the velocity of money:
a. is constant. b. will rise if the money supply rises and fall if the money supply falls. c. will rise if the money supply rises, but it will not change if the money supply falls. d. will fall if the money supply rises, and it will rise if the money supply falls. e. will fall if the money supply rises, but it will not change if the money supply falls.
The specificfactors model is termed a "shortrun" model because:
a. labor cannot move from one activity to another. b. land resources can move from one activity to another . c. labor can move from one activity to another. d. land and capital cannot move from one activity to another .