Multiple Choice
In the long run
A) fixed costs tend to be greater than variable costs.
B) variable costs tend to be greater than fixed costs.
C) all costs are fixed costs.
D) all costs are variable costs.
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Economic profit equals accounting profit minus:<br>A) explicit
Q36: Average fixed cost is<br>A)AC minus AVC.<br>B)TC divided
Q37: Which of the following cost relationships is
Q38: Short-run cost functions are estimated using<br>A)time-series regression
Q40: The results of many empirical studies of
Q42: Among the problems encountered when time series
Q43: For each of the following cost functions,if
Q44: Fred's Widget Company has purchased $500,000 in
Q45: If a firm's rent increases,it will affect
Q46: The distinction between sunk and incremental costs