Asked by Beverly Chafton on Jun 23, 2024
Verified
A short-run total cost schedule is a ________ cost schedule shifted upward by the amount of ________ cost.
A) total fixed; marginal
B) marginal; total variable
C) total variable; total fixed
D) total variable; marginal
Total Variable
The total of all variable costs associateed with the production of goods or services.
Total Fixed
All expenses that are unchanged irrespective of the volume of production or output combined.
- Comprehend and implement the principles of total costs within the context of short-run production.
- Differentiate among various cost notions, including total cost, average variable cost, and marginal cost.
Verified Answer
AA
Ahmad AbboudJun 24, 2024
Final Answer :
C
Explanation :
A short-run total cost schedule is derived by adding total fixed costs to the total variable cost schedule, thus shifting the total variable cost schedule upward by the amount of total fixed costs.
Learning Objectives
- Comprehend and implement the principles of total costs within the context of short-run production.
- Differentiate among various cost notions, including total cost, average variable cost, and marginal cost.