Question

Which is true in a balanced budget? Choose exactly two answers that are correct. The total of all expenses is equal to the total income. No single variable expense is greater than any of the fixed expenses. All fixed and variable expenses are listed. The total of all fixed expenses is equal to the total income.

Answer 1

Step-by-step explanation:

The sum of total fixed cost and total variable cost is called the total cost. 1) TFC curve remains constant throughout all the levels of output as fixed factor is constant in short run. 2) TVC rises as the output is increased by employing more and more of labour units.

Answer 2

Step-by-step explanation:

a sum of total cost is cost total income ....