The Shape of Short-Run Variable Cost Curve Is Determined by

question 201

Multiple Choice

The shape of short-run variable cost curve is determined by

• A)the firm's effort to minimize cost
• B)the firm's effort to maximize profit
• C)competition in the industry
• D)the marginal productivity of the variable inputs the firm uses
• E)the money the firm spends

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Definitions:

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Socially accepted behaviors that vary depending on context and environment.

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A psychological tendency expressed by evaluating a particular entity with some degree of favor or disfavor.

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