Asked by
Tikaram Sapkota
on Nov 04, 2024
Verified
A short-run total cost schedule is a total variable cost schedule shifted ________ by the amount of total fixed cost cost.
A) downward
B) to the right
C) upward
D) to the left
Total Cost Schedule
A detailed list that shows the total cost incurred at various levels of output or production.
Total Variable Cost
The sum of all costs that vary with the output level in the production of goods or services.
Total Fixed Cost
The cumulative total of all costs that do not alter in response to the quantity of production or output.
- Understand the significance of fixed costs in the short-run and their effect on average costs.
Verified Answer
JH
Learning Objectives
- Understand the significance of fixed costs in the short-run and their effect on average costs.