In general,if the price of a fixed factor of production increases:
A) price rises.
B) marginal costs are unchanged.
C) marginal costs increase.
D) the profit maximizing level of output falls.
Correct Answer:
Verified
Q49: A fixed factor of production:
A)is fixed in
Q57: This phone center uses only equipment
Q58: When some factors of production are fixed,in
Q60: Congestion of the work space and fixed
Q61: Suppose a firm is collecting $1,250 in
Q63: Average variable cost is defined as
A)Total cost
Q64: If a firm shuts down in the
Q65: Acme Dynamite has $2000 of variable costs
Q66: Acme Dynamite has $2000 of variable costs
Q67: The shutdown condition applies
A)in the 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