In the long-run, all inputs are a. fixed. b. more expensive. c. less expensive. O d. variable.

In a diagram, how is the effect of an increase in the price of a variable input illustrated? Multiple Choice The MC, AVC, ATC and AFC curves would shift down. Only the MC, AVC, and ATC curves would shift down. Only the MC, AVC, and ATC curves would shift up. The MC, AVC, ATC and AFC curves would shift up.

To economists, the main difference between the short run and the long run is that: the law of diminishing returns applies in the long run, but not in the short run.B. in the long run all resources are variable, while in the short run at least one resource is fixed.C. fixed costs are more important to decision making in the long run than they are in the short run.D. in the short run all resources are fixed, while in the long run all resources are variable.

You own a yogurt shop. 1) The inputs to the production of frozen yogurt are: 3 machines, refrigerators, frozen yogurt mix, cups, sprinkles, workers. What are the fixed inputs, and which are variable? 2) Complete the table: Wages per worker are $80, other variable input costs are $0.50 per cup, and Fixed Costs are $100. Complete the table. Other Cups Worke Labor Variabl of Cost e Input FroYo Cost 0 110 200 270 300 320 330 0 1 2 C 4 LA Variabl Total e Cost Cost (VC) (TC) Averag e Fixed Cost (AFC) Averag Avera ge Variabl Total e Cost Cost (AVC) (ATC) Margi nal Cost (MC)