Which of these statements is false?
A) Fixed costs do not depend on the firm's level of output.
B) There are no fixed costs in the long run.
C) Fixed costs are the difference between total costs and total variable costs.
D) Fixed costs are zero if the firm is producing nothing.
Correct Answer:
Verified
Q7: An equation showing the output that will
Q8: The short run, as economists use the
Q9: Which of the following is a correct
Q10: The following table provides information about the
Q11: With L representing the quantity of labour,
Q13: We can define total costs as
A) TFC
Q14: The formula for AVC is
A)
Q15: Which of the following is true?
A) MC
Q16: The following diagram shows a firm's short-
Q17: The sum of marginal costs at any
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