When output is zero, variable cost is --------
A) maximum
B) minimum
C) infinity
D) zero
Correct Answer:
Verified
Q1: The horizontal supply curve parallel to quantity
Q3: Change in quantity supplied of a product
Q4: At prices above the equilibrium price
A)quantity supplied
Q5: When MC cuts AC, AC is at
Q6: Cost function relates cost to
A)input
B)output
C)raw material
D)machines
Q7: An increase in market demand, supply remaining
Q8: There is no distinction between firm and
Q9: A fall in the market demand, supply
Q10: The cost of next best alternative is
Q11: When MC is greater than AC, AC
A)rises
B)falls
C)maximum
D)minimum
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents