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Author Question: Engineers for The Giffen Record Company determine that a 30% increase in all compact disc inputs ... (Read 66 times)

nmorano1

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on: Apr 19, 2019

Question 1

Engineers for The All-Terrain Bike Company determine that a 10% increase in all inputs will cause an equal percentage increase in output. Assuming that input prices remain constant, you correctly deduce that such a change in inputs will cause ________ as output increases.


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

Question 2

Engineers for The Giffen Record Company determine that a 30% increase in all compact disc inputs will cause a larger percentage increase in output. Assuming that input prices remain constant, you correctly deduce that such a change in inputs will cause ________ as output increases.


◦ average costs to increase
◦ average costs to decrease
◦ average costs to remain constant
◦ marginal costs to increase
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by nmorano1 on Apr 19, 2019

SAUXC

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Reply #1 on: Apr 19, 2019
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nmorano1

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Reply #2 on: Apr 19, 2019
Thanks


SAUXC

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Reply #3 on: Apr 19, 2019
Welcome :)


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