A Decrease in the Price of a Fixed Factor of Production

question 10

Multiple Choice

A decrease in the price of a fixed factor of production decreases total cost and

• A) leaves marginal cost unchanged.
• B) increases marginal cost.
• C) increases variable cost.
• D) decreases marginal cost.

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Definitions:

Training Transfer

Training Transfer is the successful application of skills, knowledge, or attitudes learned in a training setting to the job environment, enhancing job performance.

Internal Referencing Strategy

A method wherein individuals compare their current situation, achievements, or outcomes against their previous performances instead of comparing themselves to others.

Post-only Design

An experimental design where measurements are taken only after the intervention, lacking a baseline measurement for comparison.

Time Series Design

A research design that involves observations of a particular variable or variables over a set period, allowing for the analysis of trends or changes over time.