Which of the following statements is correct?
A) TC = TFC + TVC
B) TC = average product + marginal product
C) TC = TFC - TVC
D) TC = average physical product - marginal physical product
Answer: A
Economics
You might also like to view...
The higher the transactions costs, the easier it is to negotiate an agreement involving negative externalities
Indicate whether the statement is true or false
Economics
Opportunity costs:
a. only include explicit costs paid out-of-pocket b. never involve costs paid out-of-pocket. c. may or may not involve costs paid out-of-pocket. d. are always measured in terms of time.
Economics