Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TheTVC curve went through the origin; why isTCnot equal to zero when the company does not produce any output? Select one: a.The company will still

TheTVC curve went through the origin; why isTCnot equal to zero when the company does not produce any output?

Select one:

a.The company will still need staff even if it is producing zero output.

b.The existence of fixed costs means there is some nonzero total costs to bear at any output, evenQ=0.

c.TCexcludesTVC, so even ifTVC=0it is irrelevant to the value ofTC.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Applied Econometric Time Series

Authors: Walter Enders

4th Edition

1118808568, 9781118808566

More Books

Students also viewed these Economics questions