which of the following does not change in the short run?
ECONOMICS
WAEC 2011
which of the following does not change in the short run?
- A. Variable cost
- B. marginal cost
- C. total cost
- D. fixed cost
Correct Answer: D. fixed cost
Explanation
The short run is a production phase where at least one factor of production is fixed. Fixed costs are expenditures that do not change based on the level of production, at least not in the short run. Whether you produce a lot or a little, the fixed costs are the same.
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