Asked by
Alicia Gamez
on Oct 12, 2024
Verified
If output is rising then each of the following must be constant or rising except
A) total cost.
B) variable cost.
C) marginal cost.
D) fixed cost.
Total Cost
The sum of all costs incurred by a firm in producing a certain level of output, including both fixed and variable costs.
Variable Cost
Costs that are directly correlated with the quantity of production or output generated.
- Examine how production decisions, such as increasing or decreasing output, are influenced by cost considerations.
- Comprehend the concepts of total, fixed, and variable costs and their impact on business choices.
Verified Answer
HA
Learning Objectives
- Examine how production decisions, such as increasing or decreasing output, are influenced by cost considerations.
- Comprehend the concepts of total, fixed, and variable costs and their impact on business choices.