Which of the Following Costs Will Not Change as Output

question 124

Multiple Choice

Which of the following costs will not change as output changes?

• A) marginal cost
• B) total variable cost
• C) average variable cost
• D) total fixed cost

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Definitions:

Comparative Advantage

The ability of an individual, firm, or country to produce a certain good at a lower opportunity cost than its trading partners.

Total Output

Total output refers to the total value of all goods and services produced in an economy over a specific period.

Specialization

The process by which individuals or entities focus on producing a single or a few products or services, leading to increased efficiency and productivity in the economy.

Opportunity Cost

The economic consequence of overlooking the following preferred choice in making a decision.