Consider a Firm's Short-Run Cost Curves

question 43

Multiple Choice

Consider a firm's short-run cost curves.If average total cost is increasing as output rises,then

• A)total fixed costs must be increasing.
• B)average fixed costs must be increasing.
• C)average variable cost must be increasing.
• D)marginal cost must be below average total cost.
• E)average total cost is no longer equal to the sum of average variable cost and average fixed cost.

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Definitions:

Moral Absolutism

The ethical belief that there are absolute standards against which moral questions can be judged, and that certain actions are right or wrong, regardless of the context of the act.

Ethical Absolutism

The philosophical viewpoint that certain actions are absolutely right or wrong, regardless of the context or circumstances.

Cultural Relativism

The belief that a person's beliefs, values, and practices should be understood based on that person's own culture, rather than judged against the criteria of another.

Ethicists

Scholars who study and analyze moral principles and how they apply to behavior.