Variable costs are:

Related MCQs

• With fixed costs of Rs. 400, a firm has average total costs of Rs. 3 and average variable costs of Rs. 2.50. Its output is:
• Marginal costs and average variable costs are equal when
• Suppose that a firm produces 200,000 units a year and sells them all for Rs.10 each. The explicit costs of production are Rs.1,500,000 and the implicit costs of production are Rs. 300,000. The firm has an accounting profit of:
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• If average variable costs fall as output grows:
• Implicit costs are:
• If a firm's revenues just cover all its opportunity costs, then:
• Costs incurred only when production occurs are known as:
• In economic theory the costs of a firm
• The average total costs of the firm as defined in standard economic theory