If Wages a Firm Pays It Workers Increase, Then

question 162

Multiple Choice

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.

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Definitions:

Positive Value

A numerical value greater than zero, representing quantities that have magnitude and direction.

Null Hypothesis

A statement asserting there is no effect or no difference, serving as the default or starting assumption in hypothesis testing.

Alternative Hypothesis

The hypothesis concluded to be true if the null hypothesis is rejected.

Population Parameter

A numerical value used as a summary measure for a population (e.g., the population mean, m, the population variance, s2, and the population standard deviation, s).