Answered: A cost which has a fixed element below…

A cost which has a fixed element below which it will not fall is known as O a. Cost of production. O b. Semi-variable cost O C. Fixed cost O d. Variable cost

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 23RQ: Which costs are measured on per-unit basis: fixed costs, average cost, avenge variable cost,...

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A cost which has a fixed element below which it will not fall is known as
O a. Cost of production.
O b. Semi-variable cost
O C. Fixed cost
O d. Variable cost

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