Author Question: The shape of a firm's run average cost curve depends on how costs vary with . (Read 108 times)

waynest · **on:** Apr 19, 2019

Question 1

Engineers for The Giffen Record Company have determined that a 35% increase in all compact disc inputs will cause a 45% increase in output. Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases.

◦ average costs to increase
◦ average costs to decrease
◦ average costs to remain constant
◦ marginal costs to increase

Question 2

The shape of a firm's ________ run average cost curve depends on how costs vary with ________.

◦ short; scale of operations
◦ short; no fixed factor of production
◦ long; scale of operations
◦ long; a fixed factor of production

ultraflyy23 · **Reply #1 on:** Apr 19, 2019

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