Question

Indicate whether each of the following involves an upward or downward shift in the long-run average cost curve or, instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing, or uncertain effect on the level of average cost.
A. A rise in wage rates.
B. A decline in output.
C. An energy-saving technical change.
D. A fall in interest rates.
E. An increase in learning or experience.



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  • CreatedFebruary 13, 2015
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