Which of the Following Statements Is True

question 22

Multiple Choice

Which of the following statements is true?

• A)In the short run, there are no fixed costs, only variable costs.
• B)In the short run, there are fixed and variable costs, but in the long run there are only fixed costs.
• C)In the short run, there are fixed and variable costs, but fixed costs are the only costs a firm is concerned with.
• D)In the long run, there are no fixed costs.

---

Definitions:

Common Characteristics

Traits or features that are shared among members of a group, category, or classification.

PET Scans

A type of imaging test that helps reveal how your tissues and organs are functioning, using a radioactive drug (tracer) to show this activity.

Visual Cortex

is the part of the cerebral cortex responsible for processing visual information, located in the occipital lobe of the brain.

Retinal Ganglion Cells

Neurons located in the retina that receive inputs from multiple photoreceptor cells and transmit visual information to the brain via the optic nerve.