Short-Run Total Cost Includes All of the Private Economic Costs

question 58

True/False

Short-run total cost includes all of the private economic costs and social costs of the firm in the short run.

---

Definitions:

Transduction

The process by which sensory stimuli are converted into electrical signals in the nervous system.

Heterotrophic

An organism that obtains its energy and carbon by consuming other organisms, unable to produce its own food.

Autotrophic

Organisms capable of synthesizing their own food from inorganic substances using light or chemical energy.

Parasitic

Pertaining to organisms that live on or in a host organism and cause harm to their host.