ECON 112 QUIZ 3
Econ 112 Take-Home Quiz 3 1 Chapter 11 Questions 1. A fixed cost: A) will exist only in the long run. B) depends on the level of output. C) can be positive, even if the firm doesn’t produce any output in the short run. D) decreases until the point of diminishing returns is reached. 2. Marginal cost is the: A) increase in total cost when […]