Consider the Short- Run and Long- Run Cost Curves for a Firm.If

question 13

Multiple Choice

Consider the short- run and long- run cost curves for a firm.If there is a fall in all factor prices faced by the firm,

• A)it will move to a lower point on its existing long- run and short- run average cost curves.
• B)there will be no change in the cost curves in the long run.
• C)both the long- run and short- run average cost curves will shift downward.
• D)it will move to a lower point on its existing long- run average cost curve only.
• E)there will be a downward shift in the long- run average cost curve but not in the short- run average cost curve.

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