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Basic Question 9 of 29
In the short run, the cost that is independent of the amount of output produced is called ______.
B. fixed cost
C. variable cost
A. implicit cost
B. fixed cost
C. variable cost
User Contributed Comments 1
| User | Comment |
|---|---|
| MathLoser | In the short run, there is time required to build or buy new plant equipment. It will stay fixed for a while. In the long run, all inputs are variable. |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2024 Level I Curriculum, Volume 1, Module 1.