For a Price Taker,if the Price of a Fixed Factor

question 46

Multiple Choice

For a price taker,if the price of a fixed factor of production increases,

• A) total cost is unchanged.
• B) price rises.
• C) marginal cost is unchanged.
• D) marginal cost increases.
• E) the profit-maximizing level of output falls.

---

Definitions:

Nuclear Family Myth

The belief that the nuclear family, consisting of a mother, father, and their children, is the most natural and best unit for societal and individual well-being, even though many societies and cultures embrace diverse family structures.

Remarried Family

A family structure formed when one or both partners in a marriage have been previously married and may involve stepchildren.

Stepparent

An individual who is married to a person with children from a previous relationship and may take on a parental role to their stepchildren.

Parental Entitlement

The belief some parents hold that they have special rights or privileges in society and over their children, beyond what is typical or legally recognized.