Figure 8-5 -Refer to Figure 8-5. Which of the Following Would Most

Multiple Choice

Figure 8-5
-Refer to Figure 8-5. Which of the following would most likely cause the average total cost curve of a firm producing steel bolts to shift from ATC₁ to ATC₂?

A) an increase in demand for steel bolts
B) an increase in the market price of steel bolts
C) diminishing returns for the variable factors used to produce steel bolts
D) an increase in the price of steel