Figure 7-13 -Everything Else Equal, the AC Curve Will Shift Downward If

question 109

Multiple Choice

Figure 7-13
-Everything else equal, the AC curve will shift downward if

• A)input prices rise.
• B)input MPPs rise.
• C)output rises.
• D)output falls.

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The legal right to possess, use, and dispose of something, whether it be physical property, intellectual property, or another asset.

Trade Secret

Information, including a formula, practice, process, design, instrument, pattern, or compilation of information, not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

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Refers to assets or goods obtained in violation of the law.

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Creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.