Q15 of 30 Page 49

Can there be some fixed cost in the long run? If not, why?

In long run all the cost are variable cost because the firm has sufficient time to change the factors of input. So there is no fixed cost in long run therefore in long run total cost will be equal to total variable cost.


More from this chapter

All 30 →
13

What are the total fixed cost, total variable cost and total cost of a firm? How are they related?

 14

What are the average fixed cost, average variable cost and average cost of a firm? How are they related?

 16

What does the average fixed cost curve look like? Why does it look so?

 17

What do the short run marginal cost, average variable cost and short run average cost curves look like?