The Table Given Below Shows the Average Total Cost of Production

question 61

Multiple Choice

The table given below shows the average total cost of production of a firm at different levels of the output.Table 8.5

-In the long run,

• A)some resources are variable and some resources are fixed.
• B)all the resources can be varied.
• C)all resources are fixed.
• D)at least one resource is fixed.
• E)there are no explicit costs.

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Definitions:

Reptiles

Cold-blooded, vertebrate animals that lay eggs and have skin covered with scales or bony plates.

Metabolic Heat

The heat produced by an organism as a result of its metabolic processes, which helps in maintaining its body temperature.

Homo Sapiens

The species to which all modern human beings belong and the only extant member of the genus Homo.

Shorter Body Form

A physical adaptation where the body shape is more compact, often as an evolutionary response to environmental factors.