An Increase in the Price of One Input

question 44

Multiple Choice

An increase in the price of one input:

• A)will always rotate the long-run total cost curve upward.
• B)may rotate the long-run total cost curve upward or may leave the long-run total cost unchanged.
• C)could actually rotate the long-run total cost downward.
• D)will have no effect on the long-run total cost curve as long as long as the firm is using positive amounts of both inputs.

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Definitions:

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