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Author Question: Economists usually assume that capital is a ________ input in the ________ run. (Read 48 times)

luvbio

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Question 1

All of the following statements about variable costs are true 
except


◦ they are equal to total costs in the long run.
◦ they are zero if output is zero.
◦ they are equal to the product of average variable cost and the output level.
◦ they are constant as output increases.

Question 2

Economists usually assume that capital is a ________ input in the ________ run.


◦ variable; short
◦ fixed; short
◦ fixed; long
◦ variable; short and long


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Marked as best answer by luvbio on Apr 19, 2019

jgranad15

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luvbio

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