Which of the following statements is false? O a. Fixed costs exist in the short run, but not in the long run. O b. Changes in variable costs are reflected dollar-for-dollar in changes in total cost. O...

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Extracted text: Which of the following statements is false? O a. Fixed costs exist in the short run, but not in the long run. O b. Changes in variable costs are reflected dollar-for-dollar in changes in total cost. O c. Since (total) fixed costs are constant as output changes in the short run, it follows that average fixed cost is constant in the short run. d. Marginal cost is the cost of producing an additional unit of output.