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 9 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 materialsB. Cost of equipmentC. Interest payment on past borrowingD. Payment of rent on buildingsAnswer: Cost of raw materials
The term ‘normal profit’ as used in the analysis of equilibrium of the firm under perfect competition, refers to
