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Basic Question 2 of 13
The cost function illustrates the relationship between output and ______
B. resource prices, other factors remaining constant.
C. costs, other factors affecting costs remaining constant.
A. costs as input prices vary.
B. resource prices, other factors remaining constant.
C. costs, other factors affecting costs remaining constant.
User Contributed Comments 3
| User | Comment |
|---|---|
| haarlemmer | Ceteris Paribus means all else held constant. |
| rana1970 | which language? |
| sunny | Ceteris paribus is a Latin phrase, literally translated as "with other things [being] the same," and usually rendered in English as "all other things being equal." |
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Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2024 Level I Curriculum, Volume 1, Module 1.