Figure 8-5 Refer to Figure 8-5. Which of the Following Would Most

question 128

Multiple Choice

Figure 8-5
Refer to Figure 8-5. Which of the following would most likely cause the average total cost curve of a firm producing steel bolts to shift from ATC ₁ to ATC ₂?

• A) an increase in demand for steel bolts
• B) an increase in the market price of steel bolts
• C) diminishing returns for the variable factors used to produce steel bolts
• D) an increase in the price of steel

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