So long as a firm is enjoying increasing marginal returns, a one unit increase in output will cause marginal costs to ________ and total costs to ________

Economic model building begins with the construction of greatly oversimplified "benchmark" models, which are brought closer to reality by gradually removing the simplifying assumptions

In this process, more and more ________ variables become ________. A) short-run, long-run B) exogenous, endogenous C) long-run, short-run D) endogenous, exogenous E) nominal, real

If the fringe supply curve shifts leftward in the dominant firm model, then the resulting market equilibrium price is ________ and the dominant firm's quantity ________

A) lower, decreases B) lower, increases C) higher, decreases D) higher, increases