A Firm's Short-Run Average Cost Is Defined as

question 24

Multiple Choice

A firm's short-run average cost is defined as

• A)the ratio of total output to short-run total cost.
• B)the ratio of short-run total cost to total output.
• C)the additional cost of producing one more unit of output while some input is fixed.
• D)the additional cost of producing one more unit of output while all inputs are fixed.