If the Price of an Input Decreases,each Individual Firm's Marginal

question 76

Multiple Choice

If the price of an input decreases,each individual firm's marginal cost curve shifts ________ and the industry supply curve ________.

• A) downward; shifts to the left
• B) downward; shifts to the right
• C) upward; does not change
• D) upward; shifts to the left

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Definitions:

Work-to-rule

A form of industrial action in which employees perform their tasks exactly as outlined in their job descriptions, refusing to do any more than the minimum required as a means of protest.

Union Demands

Requests or requirements set forth by labor unions during negotiations with employers, relating to wages, benefits, working conditions, and other employment terms.

Customer Encouragement

Strategies or practices designed to motivate or persuade consumers to engage with, purchase, or support a product or service.

Union Demands

Requests or requirements put forth by labor unions during negotiations, typically relating to salaries, working conditions, benefits, and other employment terms.