-Sandra's Sweaters' Production Function Is Shown in the Above Table

question 262

Multiple Choice

-Sandra's Sweaters' production function is shown in the above table. Sandra rents three knitting machines for $30 a day each and hires workers at a wage rate of $40 a day. If the rental rate of capital rises to $50 per machine a day, Sandra's ________ curve shifts upward.

• A) average variable cost
• B) total variable cost
• C) average fixed cost
• D) marginal cost

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