Multiple Choice
Refer to the diagram, which relates to Firm X. Suppose X implements an innovative new production method that shifts its total product curve from TP ₂ to TP ₁. Other things equal,
A) the average product of X's labor would fall.
B) the average total cost of X's output would decline.
C) X would supply less output at each product price than before.
D) the demand curve for X's product would shift to the right.
Correct Answer:
Verified
Correct Answer:
Verified
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