Which one does NOT belong?

Exercise and reference answers

Questions

1. Items

   1. Total product
   2. Average product
   3. Marginal product
   4. Total fixed cost

   Reason

   Total fixed cost is a cost concept. The other three are measures of output.

   Odd item

   Total fixed cost

2. Items

   1. All factors vary
   2. Labour is variable
   3. Capital is fixed
   4. One factor is fixed

   Reason

   All factors varying is the long run. The other three describe the short run.

   Odd item

   All factors vary

Instructions

Tap the item that does not belong with the rest.

Explanation