If Input Prices Rise as Industry Output Expands, What Will

question 77

Multiple Choice

If input prices rise as industry output expands, what will happen to a perfectly competitive firm's marginal cost and average cost curves?

• A) They will not shift; as the firm increases production, however, costs decrease as the firm moves downward to the left along these curves.
• B) They will not shift; as the firm increases production, however, costs increase as the firm moves upward to the right along these curves.
• C) They will shift downward.
• D) They will shift upward.

---

Definitions:

Nonwestern Cultures

Societies and cultures that develop outside of the Western European and North American norms and traditions.

Nonverbal Measures

Describes techniques or tools used to assess behaviors, emotions, or cognitive skills without relying on verbal communication, often through observation or physiological monitoring.

Speech Disorder

A condition in which a person has difficulty producing speech sounds correctly or fluently, or has problems with voice quality.

Gardner Multiple Intelligences

A theory proposed by Howard Gardner suggesting that human intelligence is composed of a range of different kinds of "intelligences" including linguistic, logical-mathematical, musical, bodily-kinesthetic, spatial, interpersonal, intrapersonal, and naturalist.