Consider an Output Beyond the Minimum Point of a Firm's

question 161

Multiple Choice

Consider an output beyond the minimum point of a firm's short run average total cost curve. At this level of output the firm can use its ________ input at a lower average cost but only by using its ________ input at a higher average cost.

• A) fixed capital; variable labor
• B) variable labor; fixed capital
• C) variable capital; fixed labor
• D) fixed labor; variable capital

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Definitions:

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