Which statement is TRUE? Fixed costs
A) do NOT exist in the long run.
B) depend on the firm's level of output.
C) are zero if the firm is producing nothing.
D) are the difference between total costs and average variable costs.
A) do NOT exist in the long run.
Economics
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Labor productivity increases if
i. human capital decreases. ii. technology advances. iii. quality of education decreases. A) Both ii and iii B) Both i and ii C) i only D) ii only E) iii only
Economics
Which of the following inputs is normally considered to be variable in the short run?
A) labor B) capital C) money D) time
Economics