In the above graph, as you move from point B to point C,
A. the amount of capital increases and the amount of labor decreases.
B. cost is unchanged.
C. output is unchanged.
D. both b and c
E. all of the above
Answer: B
You might also like to view...
The response of output following a natural disaster includes
A) an increase in output demand and an increase in output supply. B) an increase in output demand and a decrease in output supply. C) a decrease in output demand and an increase in output supply. D) a decrease in output demand and a decrease in output supply.
All else equal, anything that decreases the transportation costs ________ the number of consumers shopping at ________.
A) does not change; local, more expensive stores B) increases; local, more expensive stores C) does not change; larger, less expensive stores D) increases; larger, less expensive stores
There was (were) just _____ $100 billion merger(s) in U.S. history.
A. 1 B. 3 C. 6 D. 20
For a monopolistically competitive firm ________ at the profit-maximizing quantity, the demand curve must be tangent to the average total cost curve.
A. in long-run equilibrium B. to shut down C. earning short-run profits D. suffering short-run losses