Suppose Jodi's Widget Business Is Using Two Inputs,labour and Capital

question 43

Multiple Choice

Suppose Jodi's widget business is using two inputs,labour and capital.If the price of labour increases,which of the following will happen?

• A)The firm's marginal cost curve will remain unchanged.
• B)The firm's average total cost curve will shift upward.
• C)Jodi will shut down her business.
• D)Jodi will hire more labour.
• E)The firm's average fixed cost curve will shift upward.

---

Definitions:

Waste-Free Measures

Strategies or actions taken to reduce, reuse, and recycle waste, aiming to minimize environmental impact.

Baby Boomers

The demographic cohort following the Silent Generation, generally defined as people born from the mid-1940s to the mid-1960s.

Marketers

Professionals or organizations that promote products, services, or brands to potential customers.

Products

Goods or services offered by businesses to satisfy consumer needs or wants.