What is the relation between fixed costs and total costs?   Question 5 options:   Two of the other answers are correct   Fixed costs are always smaller than total costs assuming variable costs are non zero   There is no relation   Fixed costs = total costs - variable costs

Survey Of Economics
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ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Proudction Costs
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What is the relation between fixed costs and total costs?

 

Question 5 options:

 

Two of the other answers are correct

 

Fixed costs are always smaller than total costs assuming variable costs are non zero

 

There is no relation

 

Fixed costs = total costs - variable costs

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