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Matching Post Quiz
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Match the correct answers below.
1


FC + VC

2


The extra cost associated with producing one additional unit of output.

3


Fixed cost divided by total output.

4


Will be achieved when the firm buys inputs until it has equalized the marginal product per dollar spent on each input.

5


The point at which marginal cost will cross the average cost curve.

6


TC/Q.

7


Those inputs to production that are can be changed in the short-run.

8


Total revenue minus total cost.

9


Changes over time.

10


Items on the balance sheet of the firm.

11


VC/Q

12


Also known as sunk costs.

13


The opportunity foregone when a decision is made.

14


The level of something at a specific time.

Answer choices for questions 1 through 14
A)TC
B)AC
C)Stock variable
D)Average fixed cost
E)Average cost is at its minimum
F)Marginal cost
G)Flow variable
H)Average variable cost
I)Variable inputs
J)Liabilities
K)Least cost
L)Total profit
M)Opportunity cost
N)Fixed costs





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