WAEC - Economics (2011 - No. 17)
which of the following does not change in the short run?
Variable cost
marginal cost
total cost
fixed cost
Uitleg
The short run is a production phase where at least one factor of production is fixed.
Fixed costs are expenditures that do not change based on the level of production, at least not in the short run. Whether you produce a lot or a little, the fixed costs are the same.