If the price of a variable resource increased for the typical firm, there would be:
A. A downward shift in the AVC curve
B. An upward shift in the AFC curve
C. A downward shift in the AFC curve
D. An upward shift in the MC curve
D. An upward shift in the MC curve
You might also like to view...
Assume that a small country produces only green peppers and red peppers. Last year, it produced 100 green peppers and 50 red peppers and sold them at prices of $2 per green pepper and $3 per red pepper
This year, it produced 150 green peppers and 60 red peppers and sold them at prices of $2 per green pepper and $4 per red pepper. What is real GDP this year if the base year is last year? A) $540 B) $350 C) $890 D) $400 E) $480 Data for 2009 Data for 2010
When the Environmental Protection Agency (EPA) assigns one emission standard to a particular group of plants, this is called
a. monopoly b. positive externalities c. a pollution compensation tax d. the bubble concept e. a municipal ordinance
Explain how the short-run industry supply curve for a perfectly competitive market is derived
If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $100 per unit, then the marginal revenue product for your school from hiring that instructor that semester is:
A. $100. B. $300. C. $30,000. D. $60,000.