-What Could Have Caused the Average Total Cost Curve to Increase

question 98

Multiple Choice

-What could have caused the average total cost curve to increase from ATC₁ to ATC₂?

• A)Marginal product of the factor input has increased.
• B)The price of the variable input has decreased.
• C)Average product has decreased.
• D)Average variable costs have decreased.
• E)Average fixed costs have decreased.

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Definitions:

Revocable

means capable of being withdrawn, cancelled, or reversed, often used in the context of trusts or agreements.

Notification of Revocation

The formal process of informing parties involved that a decision, offer, or agreement has been cancelled or withdrawn.

Assignor's Death

In contract law, the death of the assignor does not necessarily terminate the assignment unless the contract stipulates otherwise.

Delegable Duties

Delegable Duties are responsibilities or tasks that can be transferred or assigned from one party to another, typically in a work or contract context.