Which of the Following Would Shift a Firm's Short-Run Cost

question 47

Multiple Choice

Which of the following would shift a firm's short-run cost curves downward?

• A) an advance in technology
• B) an increase in employees' wages
• C) an increase in the demand for the firm's product
• D) an increase in excise taxes levied on the firm's product

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Definitions:

Liability

Refers to the legal responsibilities and obligations that arise from actions or omissions that could result in harm or loss to another party.

Warranty Liability

A legal obligation arising from warranty provisions that hold a seller or manufacturer responsible for defects or non-compliance of a product or service with the stated warranties or guarantees.

Transfer

The act of moving an asset, title, right, or interest from one entity or individual to another, which can occur through various means such as sales, gifts, or inheritance.

Acceptance

The act of agreeing to the terms of an offer, thereby creating a binding contract.