Variable cost
1. Average variable cost is 2. Which of the following is (are) correct 3. For a restaurant 4. Diminishing marginal returns means that 5. When marginal cost is below average variable cost, average variable cost must be 6. If a firm produces 10 units of output and incurs $30 in average variable cost and $5 in average fixed cost, average total cost is 7. In the long run 8. A factor of production whose quantity can be changed during a particular period is a 9. Given constant quantities of all other factors of production, when additional units of a variable factor of production add less and less to total output, then the firm is experiencing 10. The sum of fixed and variable costs is