Short-run total cost is the sum of a. short-run fixed cost, ...

[silviawilliams41]

Short-run total cost is the sum of
 a. short-run fixed cost, short-run variable cost, and short-run marginal costs.
  b. short-run fixed cost and short-run marginal costs.
  c. short-run variable cost and short-run costs.
  d. short-run fixed cost and short-run variable cost.

Question 2

For a constant-returns-to-scale production function,
 a. marginal costs are constant but the average cost curve has a U-shape.
  b. both average and marginal costs are constant.
  c. marginal cost has a U-shape; average costs are constant.
  d. both average and marginal cost curves are U-shaped.

[trampas]

Answer to Question 1

d

Answer to Question 2

b

[silviawilliams41]

Thanks for the timely response, appreciate it

[jackie]

TYSM