Saved Bookmarks
| 1. |
Discuss about the various short run cost? |
|
Answer» Total Fixed Cost (TFC): These costs do not change with the change in output. TFC remains CONSTANT even when the output is ZERO. TFC is represented by a straight line horizontal to the x-axis (output). Total VARIABLE Cost (TVC): These costs are DIRECTLY proportional to the output of a firm. |
|