When All of a Firm's Inputs Are Doubled,input Prices Do

question 312

Multiple Choice

When all of a firm's inputs are doubled,input prices do not change,and this results in the firm's level of production more than doubling,a firm is operating:

• A)on the upward-sloping portion of its long-run average total cost curve.
• B)on the downward-sloping portion of its long-run average total cost curve.
• C)at the minimum of its long-run average total cost curve.
• D)on the upward-sloping portion of its marginal cost curve.

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Definitions:

Discontinuous

Characterized by interruptions or gaps, not having a steady or unbroken progression.

Multidimensional

Characterized by involving or having several dimensions or aspects.

Nature

The phenomena of the physical world collectively, including plants, animals, the landscape, and other features and products of the earth, as opposed to humans or human creations.

Maturational Processes

Biological or physiological developments that follow a predetermined sequence over an individual's life.