tion 39 Which of the following statements is correct? yet vered OIn the short run, all costs are fixed. ts out of OIn the short run, there are no fixed costs. ag question OIn the long run, all costs are fixed. OIn the long run, there are no fixed costs. ation 40 Gavin observes that his average total costs of producing widgets are decreasing. For Gavin's firm, yet vered Ototal costs could be falling. ts out of Omarginal costs must be lower than average total costs. ag question Daverage variable costs must also be decreasing. O Daverage variable costs must exceed average total costs. tion 41 Which of the following expressions is correct? vet vered OMarginal cost is the change in fixed cost divided by the change in variable cost. is out of OAverage total cost is marginal cost divided by the quantity of output. ag question OAverage fixed cost is total fixed cost divided by the quantity of output. OMarginal cost is total cost divided by the quantity of output. tion 42 If there is a reduction in market demand in a competitive market, then in the short run profits will yet vered Oremain unchanged at positive economic profits. ts out of Oincrease. lag question Odecrease. Oremain unchanged at zero economic profits