Changes in short-run total costs result from changes in

Name: Changes in short-run total costs result from changes in
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Short-run total costs are influenced by variable costs, which are costs that change in direct proportion to changes in output or production levels. Fixed costs, on the other hand, remain the same regardless of changes in production levels. Profit is an outcome of the comparison between total revenue and total costs, and therefore does not directly affect short-run total costs.

Changes in Short-Run Total Costs Result from Changes in