Statement b is false, because the SMC and MVC curves actually coincide. MVC shows the change in a firm's total variable cost if its output changes by one unit, while SMC shows the change in its short-run total cost if its output changes by one unit. Now, in the short-run, if a firm changes its output by one unit, it can change the quantity of the variable inputs it uses but not the quantity of the fixed inputs, so the change in its total cost equals the change in the cost of its variable inputs.
Where is the International Food Policy Research Institute located?
ICAR – National Institute of Abiotic Stress management is located at ____
Which of the following parts of the stomach is called “True stomach”?
Which type of agriculture policy aims to provide subsidies and incentives to promote agriculture exports?
Oxidized Flavor development in milk is catalyzed by:
What is the current yield of cotton per hectare in India?
Rice stem borers lay eggs on which one of the following parts of the plant?
Which one of the following is an animal-origin insecticide?
Megasporogenesis occurs in
Which method of plant breeding involves Crossing to plants with desirable traits followed by self-pollination?