An Increase in Variable Costs

question 28

Multiple Choice

An increase in variable costs:

• A) will result in the firm's marginal, average total, and average variable cost curves shifting upward by less than the cost increase.
• B) will result in the firm's marginal, average total, and average variable cost curves shifting upward by the amount of the cost increase.
• C) will shift the industry supply curve upward (to the left) by a smaller amount.
• D) will shift the industry supply curve upward (to the left) by a larger amount.

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Definitions:

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