Microeconomics > TEST BANKS > TEST BANKS| Microeconomics Latest Practice Questions And Answers _2022 (All examinable).pdf (All)
TEST BANKS| Microeconomics Latest Practice Questions And Answers _2022 (All examinable).pdf
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1. A firm's ___________ consist of expenditures that must be made before production starts that typically, over the short run, _______________ regardless of the level of production. A. fixed costs;... do not change, B. variable costs; are constantly changing, C. fixed costs; are consistently changing, D. variable costs; do not change, Answer: A 2. Find the values of A, B, C, D, E, F, G points. Answer: Fixed cost is constant at 30 at any quantity level. A: Variable cost = TC – FC = 72 – 30 = 42 B: TC = VC + FC = 12 + 30 = 42 E: ∆ TC from 30 to 42 = 12 Try doing the rest of the answer. [Show More]
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