If a firm has already paid or has agreed to pay for something, we call that cost:

Appreciation of the Canadian dollar will:

A. intensify an existing disequilibrium in Canada's balance of payments. B. make Canada's exports less expensive and its imports more expensive. C. make Canada's exports more expensive and its imports less expensive. D. make Canada's exports and imports both more expensive.

The firm can calculate all points on its total cost curve if it knows

A. its production function. B. the prices of inputs and of output. C. its average cost at its optimal output level. D. the prices of inputs and its production function.