Total variable cost is the sum of all
A) costs of the firm's fixed factors of production.
B) costs associated with the production of goods.
C) costs that rise as output increases.
D) implicit costs.
C
Economics
You might also like to view...
What impact would easy entry have on the profitability of oligopolies?
Economics
Total producer surplus in a market is measured as the
A) area bounded above the market clearing price and beneath the market demand curve. B) area bounded below the market clearing price and above the market supply curve. C) vertical distance from the horizontal (quantity) axis to the market clearing price. D) horizontal distance from the vertical (price) axis to the equilibrium quantity.
Economics