Total costs in the short-term (short-run) are classified into fixed costs and variable costs. Which one of the following is a variable cost?

A. Cost of raw materials

B. Cost of equipment

C. Interest payment on past borrowing

D. Payment of rent on buildings

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Which is the correct statement?
  2. Isocost line shows the combinations of labor and capital where a firms budget is:
  3. Consumer surplus is the difference between
  4. MRSxy measures:
  5. The isoquant approach is based upon:
  6. In case of short-run, the supply curve of an industry is the horizontal summation of:
  7. An increase in the price of the good measured on the horizontal axis causes:
  8. LMC represents change in LTC (long-run total cost) due to producing an additional unit of a good while…
  9. Utility is:
  10. In the real world, some competitive firms owns specialized resources that earn a return called:
  11. Any expansion in output by a firm in the short period will always reduce the:
  12. If Cobb-Douglas production function is homogeneous of degree greater than one (n>1), then it shows:
  13. When the output of a firm is increasing, its average fixed cost:
  14. Entry of new firms into a competitive market will shift the supply curve of the:
  15. If we measure the elasticity of demand with the help of the average and marginal revenue, the formula…
  16. If there are many firms producing similar but differentiated products, the competition is generally…
  17. The marginal revenue of a perfectly competitive firm is:
  18. The budget constraint can be written as:
  19. The marginal revenues are derivatives of:
  20. Robbins definition of economics was criticised by:
  21. The nominal income of a consumer is income in terms of:
  22. General Equilibrium deals with the equilibrium of the:
  23. Of the following commodities, which has the lowest price-elasticity of demand?
  24. Marshallian approach is also known as:
  25. Economies of large-scale production:
  26. To get more revenue, a Finance Minister impose tax on that commodity which has:
  27. Under perfect competition, the average revenue, marginal revenue and price are shown:
  28. Even in the long-run equilibrium, the pure monopolist can make abnormal profits because of:
  29. Increasing returns imply:
  30. Variable cost includes the cost of: