Assume That Labor Is the Variable Input for a Firm

question 95

Multiple Choice

Assume that labor is the variable input for a firm.Which of the following will occur if the wage rate increases?

• A)Its average variable cost,average fixed cost,average total cost,and marginal costs will increase.
• B)Its average variable cost and average total costs will increase and profits will decrease.
• C)Its marginal cost,average total costs,and output will increase.
• D)Its marginal cost and average variable costs will increase.

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