For Each of the Following Statements,fill in the Blank with Either

question 74

Essay

For each of the following statements,fill in the blank with either the word increase,decrease,or stay the same.
a.As production increases,total fixed costs ______________.
b.As production increases,fixed costs per unit _____________.
c.As production decreases,variable costs per unit _____________.
d.As production decreases,total variable costs _______________.

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Definitions:

Natural Capital

The world's stock of natural resources, including geology, soils, air, water, and all living organisms, which provide goods and services that support the economy and life.

Nonrenewable Natural Resource

Things such as oil, natural gas, and metals, that are either in actual fixed supply or that renew so slowly as to be in virtual fixed supply when viewed from a human time perspective.

Timber

Wood that has been processed into beams and planks, a stage in the production of materials for building and furniture making.

Alternative Fuels

Fuels other than fossil fuels, often produced from renewable resources, used to power vehicles and machinery.