If a Firm Has to Increase Output Suddenly to Meet

question 252

True/False

If a firm has to increase output suddenly to meet an increase in demand,its average total cost will increase in the short run until it has time to add physical capital.

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Definitions:

Animation

The process of creating motion and shape change illusions by means of the rapid display of a sequence of static images that minimally differ from each other.

Gantt Chart

A type of bar chart that illustrates a project schedule, showing the start and finish dates of elements.

Time Line Chart

Chart that shows how much time is needed to complete each task in a project.

Surface Chart

A type of chart used in data visualization to represent three-dimensional data; it shows the relationships among three variables.