Which of the following costs always declines as output increases?
Average cost
B. Marginal cost
C. Fixed cost
D. Average fixed cost
E. Average variable cost
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The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the variable cost?
A. 200
B. 5Q
C. 5
D. 5 + (200/Q)
E. none of the above
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the fixed cost?
A. 200
B. 5Q
C. 5
D. 5 + (200/Q)
E. none of the above
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the marginal cost?
A. 200
B. 5Q
C. 5
D. 5 + (200/Q)
E. none of the above
The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average total cost?
A. 500
B. 5Q
C. 5
D. 5 + (200/Q)
E. none of the above