Which of the Following Statements Is Correct

question 20

Multiple Choice

Which of the following statements is correct?

• A)In the short run, if a firm chooses to produce no output (i.e., shut down)its total costs of production will equal its total fixed costs.
• B)If a firm decides to shut down, its short-run total costs will equal 0.
• C)As a firm increases output in the short run, the change in total costs is equal to the change in total variable costs.
• D)A firm minimizes its total costs of production when average variable cost is minimized.

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Definitions:

Feedback

Information provided to individuals or groups regarding their performance, behavior, or process, used as a basis for improvement.

Natural Settings

Environments or situations that occur naturally without human intervention or artificiality.

Quality Of Work

The measure of excellence or state of being free from defects, deficiencies, and significant variations in a product or service.

Good Follower

A person who supports and is guided by another person or by a group, showing commitment and adaptability.