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Basic Question 9 of 29

In the short run, the cost that is independent of the amount of output produced is called ______.

A. implicit cost
B. fixed cost
C. variable cost
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User Contributed Comments 1

User Comment
MathLoser In the short run, there is time required to build or buy new plant equipment. It will stay fixed for a while.

In the long run, all inputs are variable.
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I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!
Barnes

Barnes

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.