A Firm Replaces a Machine by Hiring 3 Hourly Production

question 93

Multiple Choice

A firm replaces a machine by hiring 3 hourly production workers instead.

• A) Both its fixed and variable costs will fall.
• B) Both its fixed and variable costs will rise.
• C) Its fixed costs will rise and its variable costs will fall.
• D) Its fixed costs will fall and its variable costs will rise.

---

Definitions:

Votes

Expressions of choice or preference made by individuals or groups in a decision-making process, typically within an electoral context.

Making Speeches

Making speeches involves delivering oral presentations to an audience, aiming to inform, persuade, or entertain through spoken communication.

Priceless Moments

Experiences or events that hold immense emotional value, considered irreplaceable and beyond monetary worth.

Figurines

In economics, this term does not carry a specific meaning and is likely referred to collectible or decorative small statues in discussions on consumer behavior or niche markets.