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    variable and fixed costs

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    All of the following statements are correct EXCEPT:

    (a) The short-run price needs to cover only the costs that vary in the short run.
    (b) The short-run price needs to cover both variable and fixed costs.
    (c) The long-run price needs to cover both fixed and variable costs.
    (d) Incremental costs are relevant costs in the short run.

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    https://brainmass.com/economics/short-and-long-run-cost-functions/variable-and-fixed-costs-18884

    Solution Preview

    Choose: (b) The short-run price needs to cover both variable and fixed costs.
    <br>
    <br>Obviously, a ...

    Solution Summary

    Variable and fixed costs are emphasized.

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