A buc.populiwe Populi - Bethesda University My Courses 5) In a short-run perspective, we can divide a firm's total costs into _, which a firm must incur before producing any output, and , which the firm incurs in the act of producing. 1 Point variable costs; fixed costs O fixed costs; variable costs O short costs; long costs O long costs; sort costs 6) In the long run, all inputs are_ 1 Point O variable O fixed short O long 7) A production technology refers to_ 1 Point labor and technology that makes up a particular method of production. O a specific combination of labor, physical capital, and technology that makes up a particular method of production. O a specific combination of labor, physical capital, and technology. None of these are correct.buc.popu My Courses Populi - Bethesda University 8) A_(or producer or business) combines inputs of labor, capital, land, and raw or finished component materials to produce outputs. 1 Point government O person O firm O all of these are correct 9) Which of the following is not a question related to production decisions that define a firm's behavior? How much labor should the firm employ? 1 Point What product or products should the firm produce? How should the firm produce the products? How much does your competitor should produce? What price should the firm charge for its products? 10) _ relates to the total revenues minus explicit costs, including depreciation. 1 Point average profit O average total cost average variable cost accounting profit Click the button below to submit your test. You will not be able to change your answers after this. Submit TestD . .