An Increase in the Quantity of Output Will Cause the Cost

question 83

Multiple Choice

An increase in the quantity of output will cause the cost minimizing quantity of an input to go ________ if the input is a normal input and will cause the cost minimizing quantity of the input to go _________ if the input is an inferior input.

• A)up; up
• B)up; down
• C)down; up
• D)down; down

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Definitions:

Daycare

A service that provides care and supervision for children while their parents are at work or engaged in other activities.

Labour Force Participation

The portion of the working-age population (usually those aged 15-64) that is either employed or actively looking for work.

Women

Adult human females.

Canadian Province

A principal administrative division in Canada, of which there are ten, each having its own government and responsibilities as defined by the Canadian constitution.