Multiple Choice
If the price of a fixed factor of production increases by 50 percent, what effect would this have on the marginal-cost schedule facing a firm?
A) None, because fixed costs do not affect marginal cost.
B) Marginal cost would increase by 50 percent.
C) Marginal cost would increase by less than 50 percent.
D) Marginal cost would increase by more than 50 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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