Economy, asked by Eshamalik332002, 3 months ago

Fixed Cost is the only part of long run and variable cost is the only part of short run?also tell the statement is true or false and give reason.

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Answered by AmanRatan

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Here, variable cost is a short-run concept. In the long run all costs are variable, so accountants need to clarity the time horizon envisioned in identifying a cost as variable. If total variable cost always increases in proportion to changes in volume, then average variable cost must remain constant as volume changes.

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Fixed Cost is the only part of long run and variable cost is the only part of short run?also tell the statement is true or false and give reason.​

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Fixed Cost is the only part of long run and variable cost is the only part of short run?also tell the statement is true or false and give reason.