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Home Q & A Board Other Fields Homework Help Business Economics
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mbowdish mbowdish
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Posts: 470
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5 years ago

Question 1.

The firm's short-run costs contain

• both variable and fixed costs.

• only variable costs.

• only opportunity costs.

• only fixed costs.

Question 2.

Suppose that a firm is currently producing 500 units of output. At this level of output, AVC is $1 per unit, and TFC is $500. What is the firm's TC?

• $1,500

• $501

• $500

• $1,000
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
Read 61 times
1 Reply

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Replies
wrote...
#1
5 years ago

Answer 1

both variable and fixed costs.

Answer 2

$1,000
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