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lpn27 lpn27
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A year ago

Which of the following statements is false?



▸

Since (total) fixed costs are constant as output changes in the short run, it follows that average fixed cost is constant in the short run.



▸

Marginal cost is the cost of producing an additional unit of output.



▸

Changes in variable costs are reflected dollar-for-dollar in changes in total cost.



▸

Fixed costs exist in the short run, but not in the long run.

Textbook 
Economics

Economics


Edition: 12th
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12Jfiscus12Jfiscus
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