Which of the Following Will Cause the Average Cost Curve

question 36

Multiple Choice

Which of the following will cause the average cost curve of making cigarettes to shift?

• A) a $5 million penalty charged to each cigarette maker
• B) a $1 per pack tax on cigarettes
• C) a $1 an hour wage increase paid to all cigarette production workers
• D) All of the above.

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Definitions:

Ability

The competence or skill to do something effectively or achieve a desired result.

Aptitudes

Refers to natural talents or abilities that enable individuals to perform certain tasks effectively.

Competencies

A combination of knowledge, skills, abilities, and other characteristics that enable individuals to perform a job effectively.

Skills

The ability to perform tasks and solve problems due to knowledge, practice, and aptitude.