If input prices rise as industry output expands, then a perfectly competitive firm's marginal cost and average cost curves will:
a. shift upward

b. shift downward.
c. not shift. As the firm increases production, however, costs increase as the firm moves upward to the right along these curves.
d. not shift. As the firm increases production, however, costs decrease as the firm moves downward to the left along these curves.


a

Economics

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