Multiple Choice
Suppose a firm is using two inputs,labor,and capital.What will happen if the price of labor falls?
A) The firm's average cost curve will shift upward.
B) The firm's marginal cost curve will shift downward.
C) To produce the same level of output,the firm would need more capital.
D) The firm's total cost of production will increase.
Correct Answer:
Verified
Correct Answer:
Verified
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