In a short run, fixed cost remain constant, but variable cost change with changes in total product.TrueFalse

Which of the following statements about short-run costs is true? aAverage fixed cost plus variable cost equals total cost. bAverage total cost plus average fixed cost equals average variable cost. cTotal fixed cost increases in constant increments as output produced increases. dTotal fixed cost plus total variable cost equals total cost.

Costs that vary per unit but remain constant in total are:Question 4Select one:a.variable costsb.fixed costsc.incremental costsd.opportunity costs

Semi-variable costs changes both in total and per unit A. True B. False

Liz produces lemonade in a perfectly competitive market. Her only fixed cost is the rent she pays for her factory. Which of the following statements are false: Liz's average fixed costs are constant. If the quantity produced increases, Liz's average fixed cost will increase. An increase in marginal cost can only be caused by changes in variable cost. The average total cost curve will intersect the minimum of the average variable cost curve.

Define the term fixed cost