If the Price of an Input Falls,a Firm Would Increase

question 3

Multiple Choice

If the price of an input falls,a firm would increase the use of that input for two reasons:

• A)the input is now more productive,and the firm can substitute this input for other relatively more expensive inputs.
• B)the input is now more productive,and overall production costs are now lower,meaning a firm may choose to increase production.
• C)overall production costs are now lower and the firm can substitute this input for other relatively more expensive inputs.
• D)overall production costs are now lower and the firm will have more of other inputs to use with the one in question.

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