Cost curves shift if
i.technology changes.
ii.the prices of factors of production change.
iii.productivity changes.
A) only i
B) i and iii
C) only ii
D) i and ii
E) i, ii, and iii

Question

Quizplus · Accepted Answer

Cost curves can shift due to changes in technology, changes in the prices of factors of production, and changes in productivity. All these factors affect the cost of production, thereby causing shifts in the cost curves.

Cost Curves Shift If