Table 13-5 -Refer to Table 13-5.Assume That Fixed Costs Are $500,and Variable

question 247

Multiple Choice

Table 13-5

-Refer to Table 13-5.Assume that fixed costs are $500,and variable costs are $100 per worker.For this firm,what are the shapes of the production function and the total-cost curve?

• A) Both the production function and total-cost curve are increasing at an increasing rate.
• B) Both the production function and total-cost curve are increasing at a decreasing rate.
• C) The production function is increasing at a decreasing rate, whereas the total-cost function is increasing at an increasing rate.
• D) The production function is increasing at an increasing rate, whereas the total-cost function is increasing at a decreasing rate.

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