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achalmers achalmers
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5 years ago

Question 1.

Engineers for The Giffen Record Company determine that a 30% increase in all compact disc inputs will cause a larger percentage increase in output. Assuming that input prices remain constant, you correctly deduce that such a change in inputs will cause ________ as output increases.



▸ average costs to increase

▸ average costs to decrease

▸ average costs to remain constant

▸ marginal costs to increase

Question 2.

The shape of a firm's long-run ________ depends on how costs vary with scale of operations.



▸ fixed cost curve

▸ variable cost curve

▸ average cost curve

▸ marginal revenue curve
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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Kutthroat K.Kutthroat K.
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5 years ago
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achalmers Author
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5 years ago
Thanks for your help!
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