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Author Question: A firm's marginal cost is the increase in its total cost divided by the increase in its A) ... (Read 44 times)

burton19126

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on: Jun 29, 2018
A firm's marginal cost is the increase in its total cost divided by the increase in its
 
  A) quantity of labor.
  B) average cost.
  C) output.
  D) average revenue.

Question 2

Give examples of factors that decrease short-run aggregate supply. Which way does the SAS curve shift?
 
  What will be an ideal response?


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jgranad15

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

Aggregate supply decreases if potential GDP decreases. In addition, cost hikes such as a rise in the money wage rate or the price of oil, decreases short-run aggregate supply. Whenever short-run aggregate supply decreases, the SAS curve shifts leftward.


burton19126

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

dantucker

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Reply 3 on: Yesterday
Excellent

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