If the Short-Run Average Variable Costs of Production for a Firm

question 356

Multiple Choice

If the short-run average variable costs of production for a firm are rising, then this indicates that

• A)average total costs are at a maximum.
• B)average fixed costs are constant.
• C)marginal costs are above average variable costs.
• D)average variable costs are below average fixed costs.

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Definitions:

Weight on the Future

This key-term may refer to the emphasis or consideration given to future outcomes or consequences in decision-making processes.

Canalization

A concept in genetics and developmental biology referring to the ability of an organism to produce the same phenotype regardless of variability in its environment or genotype.

Myelination

The coating of axons with myelin.

Differentiation

The processes by which behaviors and physical structures become specialized.