In the short run, as a firm increases its output, some costs do not change. These costs are called:
A) fixed costs.
B) variable costs.
C) average total costs.
D) hidden costs.
Correct Answer:
Verified
Q201: What are some examples of economies of
Q202: What causes short-run average variable cost to
Q203: How does average fixed cost change as
Q204: Which economist coined the term creative destruction?
A)
Q205: The most efficient method of production for
Q207: In the long run,:
A) all inputs can
Q208: In the short run, as a firm
Q209: Total variable costs:
A) do not increase as
Q210: Short-run costs behave as they do because
Q211: The total cost of producing 9 units
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