If wages a firm pays it workers increase, then
A) the firm's long-run average cost curve shifts upward.
B) the firm moves rightward along its long-run average cost curve to where it has diseconomies of scale.
C) the firm's long-run average cost curve does not shift and there is no movement along the long-run average cost curve.
D) the firm moves rightward along its long-run average cost curve but not necessarily to where it has diseconomies of scale.
A
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An increase in the inflation rate results in ________ in the quantity of real GDP demanded because a higher price level ________
A) an increase; increases consumption and investment B) a decrease; increases consumption and investment C) a decrease; reduces consumption and investment D) an increase; reduces consumption and investment
If the number of people employed is 240,000 and the labor force is 250,000, the unemployment rate is
A. 2.4%. B. 2.9%. C. 4.0%. D. 4.7%.