Consider the short- run and long- run cost curves for a firm.If factor prices decrease,
A) there will be no change in the cost curves in the long run.
B) the firm will move down along both its long- run and short- run average cost curves.
C) both the long- run and short- run average cost curves will shift downward.
D) the firm will move down along its long- run average cost curve only.
E) there will be a downward shift in the long- run average cost curve but not in the short- run average cost curve.
Correct Answer:
Verified
Q55: The principle of substitution plays a central
Q56: Suppose RioTintoAlcan is considering the construction of
Q57: If a firm is using labour and
Q58: The following table shows the marginal
Q59: The figure below shows a family of
Q61: Which of the following cost curves demonstrate
Q62: FIGURE 8- 4 Q63: Canada has a much lower population density Q64: FIGURE 8- 2 Q65: Consider the short- run and long- run![]()
![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents