In economic theory the costs of a firm

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:
• 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:
• The average total costs of the firm as defined in standard economic theory
• Marginal costs and average variable costs are equal when
• If a firm's revenues just cover all its opportunity costs, then:
• If the short-run average variable costs of production for a firm are rising, then this indicates that:
• Micro economic theory studies how a free enterprise economy determines:
• The validity of an economic theory is judged by its power to:
• The short run as the term is used in connection with the theory of the firm is a period of time:
• Implicit costs are: