Find total cost where TFC = 200 and TVC = 150

(a)

300

(b)

350

(c)

200

(d)

150

Out of pocket cost is also called as ____.

(a)

Real Cost

(b)

Money Cost

(c)

Economic Cost

(d)

Fixed Cost

Opportunity cost is also called as ____.

(a)

Alternative Cost

(b)

Transfer Cost

(c)

Both 'a' and 'b'

(d)

None of these

MC_n is a

(a)

TR - TC

(b)

TFC + TVC

(c)

TC_n - TC_n-1

(d)

All the above

__________ is called as Boat Shape curve (or) Envelop curve.

(a)

LAC curve

(b)

SAC curve

(c)

Total cost curve

(d)

Marginal cost curve