Diminishing a. Average Productivity b. Consumption C. Marginal Productivity d. Revenue 12. The practice of giving up something, in exchange for another thing is exemplified in the principle of O a. Commodity Substitution b. Opportunity Cost O . Substitution Effect O d. Utility Substitution The Total Cost curve is directly proportional with the, curve. a. Average Total Cost b. Fixed Cost c. Marginal Cost d. Variable Cost

Diminishing a. Average Productivity b. Consumption C. Marginal Productivity d. Revenue 12. The practice of giving up something, in exchange for another thing is exemplified in the principle of O a. Commodity Substitution b. Opportunity Cost O . Substitution Effect O d. Utility Substitution The Total Cost curve is directly proportional with the, curve. a. Average Total Cost b. Fixed Cost c. Marginal Cost d. Variable Cost

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.5: Production And Costs In The Long Run

Problem 1ST

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