All of the following are true regarding variable costs except which one?
A) Variable costs are the sum of the costs paid for all variable inputs.
B) Variable costs are equal to total cost minus fixed costs.
C) Variable costs change with changes in output.
D) Variable costs are the sum of the costs paid for all inputs.
D) Variable costs are the sum of the costs paid for all inputs.
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Female circumcision is classified as a form of gender exploitation
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Since abundant remains of animal bones are found at their sites paleoanthropologists have described Neandertals as
a. successful hunters and therefore efficient mastodon hunters. b. successful small game hunters, but not necessarily as successful large game hunters as modern humans. c. never gathering shellfish. d. less prone to head and neck injuries. e. possessing long-distance weaponry.
A perfectly competitive firm is producing the profit-maximizing output level when their variable cost decreases. If the market price does not change, to maximize profit, the firm will need to ________.
A) decrease production by the amount of the variable cost decrease B) increase production C) maintain the current output level D) decrease production