Pitch (A Sticky Black Substance Made from Petroleum) Is a Key

question 80

Multiple Choice

Pitch (a sticky black substance made from petroleum) is a key input in the production of clay targets. If the price of pitch falls, clay target manufacturers will encounter an _____ shift of their marginal cost curve and an_____ shift of their average variable cost.

• A) inward; inward
• B) outward; outward
• C) inward; outward
• D) outward; inward

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Definitions:

Great Britain

An island in the North Atlantic off the northwest coast of continental Europe, comprising of the countries of England, Scotland, and Wales, and forming the largest part of the United Kingdom.

British Islands

A term that collectively refers to the islands that make up the United Kingdom along with certain other islands, including the Isle of Man and the Channel Islands.

Tidewater Areas

Regions near the coast affected by the tide, often characterized by wetlands and estuaries, historically significant in early American settlement and agriculture.

Massachusetts Bay Colony

An early English settlement established in 1630 in present-day Massachusetts, it was a major center for Puritanism and early American colonial life.