Multiple Choice
Suppose that the price of labor,the only variable input needed to produce cotton,increases from $100 day to $120 day.The effect on costs will be
A) a parallel shift in the total cost curve.
B) a parallel shift in the fixed cost curve.
C) a parallel shift in the marginal cost curve.
D) a shift in total cost by different amounts for different quantities.
Correct Answer:
Verified
Correct Answer:
Verified
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