In the short run,a firm's total costs are the sum of ________ costs and ________ costs.
A) average; marginal
B) input; output
C) fixed; average
D) marginal; variable
E) variable; fixed

Question

Quizplus · Accepted Answer

In the short run, a firm's total costs are the sum of variable costs (costs that vary with the level of output) and fixed costs (costs that do not vary with the level of output). Therefore, choice E ("variable; fixed") is the best answer.

In the Short Run,a Firm's Total Costs Are the Sum