Which of the Following Statements Is Correct

question 20

Multiple Choice

Which of the following statements is correct?

• A)In the short run, if a firm chooses to produce no output (i.e., shut down)its total costs of production will equal its total fixed costs.
• B)If a firm decides to shut down, its short-run total costs will equal 0.
• C)As a firm increases output in the short run, the change in total costs is equal to the change in total variable costs.
• D)A firm minimizes its total costs of production when average variable cost is minimized.

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Definitions:

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed, a concept important in cognitive development.

Cognitive Development

The process by which individuals learn and develop mental skills throughout their lives, including thinking, problem-solving, and decision-making abilities.

Infants

Young children from birth to 1 year of age, who are especially vulnerable and dependent on adults for the provision of their needs.

Sensorimotor Stage

The first stage in Piaget's theory of cognitive development, where infants learn about the world through their sensory and motor interactions.