Which of These Statements Is False

question 239

Multiple Choice

Which of these statements is false?

• A)There are no fixed costs in the long run.
• B)Total costs are equal to total fixed costs plus total variable costs.
• C)In the short run, all inputs are fixed inputs.
• D)A fixed cost is a cost that does not change as output changes.

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Definitions:

Technological

Pertaining to technology, the branch of knowledge dealing with engineering or applied sciences.

North American Free Trade Agreement

A trade agreement between Canada, Mexico, and the United States designed to reduce tariff barriers and increase economic cooperation.

Tariffs

Taxes imposed by a government on imported goods, often used to protect domestic industries and regulate trade.

Trade Embargoes

Government-imposed restrictions on the exchange of goods and services with a particular country or group of countries.