In the Long Run, Total Variable Cost Is Zero

question 297

True/False

In the long run, total variable cost is zero.

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Definitions:

Produce

To create, manufacture, or cultivate goods, products, or crops.

Measure

A quantitative or qualitative assessment tool used for determining the size, amount, or degree of an object or phenomenon.

Deming's Fourteen Principles

A set of management practices introduced by W. Edwards Deming to promote quality, productivity, and competitive position.

Continuing Inspection

A process of ongoing scrutiny in projects or production to ensure standards are maintained throughout the lifecycle.