The line labelled M in the diagram above represent
The line labelled M in the diagram above represent
Total cost
Fixed cost
Variable cost
Average cost
Correct answer is B
The curve labelled M represent fixed cost. The fixed do not vary with the level of output.
Similar Questions
A firm is said to be a public Joint Stock Company when it ...
If the marginal utility of good X exceeds that of good Y, this implies that ...
In a capitalist system goods are produced for those who ...
A production possibility curve shows the ...
In economics, production takes place only when ...
The most common index used for measuring development is ...
The PAYE (Pay As You Earn) in Nigeria is an example of ...
The process of building up country’s capacity to process raw materials for the production of g...
When a country's population is experiencing increasing returns, that country is said to be ...