Home » Demand and Supply MCQs » Total costs in the short-term are classified into fixed costs and varibale costs. Which one of the following is a variable cost? Demand and Supply MCQs Total costs in the short-term are classified into fixed costs and varibale costs. Which one of the following is a variable cost? September 27, 2022 7 Views Q. Total costs in the short-term are classified into fixed costs and varibale costs. Which one of the following is a variable cost? A. Cost of raw materials B. Cost of equipment C. Interest payment on past borrowing D. Payment of rent on buildings Answer: Cost of raw materials
The term ‘normal profit’ as used in the analysis of equilibrium of the firm under perfect competition, refers to
