Short-run total cost is the sum of
A)short-run fixed cost,short-run variable cost,and short-run marginal costs.
B)short-run fixed cost and short-run marginal costs.
C)short-run variable cost and short-run costs.
D)short-run fixed cost and short-run variable cost.

Question

Quizplus · Accepted Answer

Short-run total cost is the sum of short-run fixed cost and short-run variable cost. Short-run fixed cost is the cost that does not change with changes in output, while short-run variable cost changes with changes in output. Therefore, short-run total cost is the sum of these two costs.

Short-Run Total Cost Is the Sum of