Asked by Jessica Hegyi on May 30, 2024
Verified
Short-run costs that do not depend on the level of output are
A) total fixed costs only.
B) total variable costs only.
C) total costs only.
D) both total variable costs and total costs.
Total Fixed Costs
The sum total of costs that are unaffected by changes in production levels or output.
Short-Run
A phase where production can be adjusted only by varying the amounts of variable inputs, with fixed inputs remaining constant.
Level of Output
The total quantity of goods or services produced by a company or economy at a given time.
- Acquire knowledge about the essential elements of costs within economics, such as total fixed costs (TFC), total variable costs (TVC), and total costs (TC).
Verified Answer
DD
Danny DaoudJun 02, 2024
Final Answer :
A
Explanation :
Total fixed costs do not depend on the level of output, meaning they remain constant regardless of the amount of goods or services produced.
Learning Objectives
- Acquire knowledge about the essential elements of costs within economics, such as total fixed costs (TFC), total variable costs (TVC), and total costs (TC).