Below is short-run cost data for four different plant sizes. Plant 2 has exactly twice as many inputs as does Plant 1. P

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Below Is Short Run Cost Data For Four Different Plant Sizes Plant 2 Has Exactly Twice As Many Inputs As Does Plant 1 P 1 (70.05 KiB) Viewed 29 times

Below is short-run cost data for four different plant sizes. Plant 2 has exactly twice as many inputs as does Plant 1. Plant 3 has exactly three times as many inputs as does Plant 1 and Plant 4 has exactly four times as many inputs as does Plant 1. Output $ AC: Plant 14 AC: Plant 2$ AC: Plant 3$ AC: Plant 4 12 14 15 15.25 11 13 13.75 14.25 12 12 12.75 14 11 12 17 12 11.50 21 13 11 26 14 11.50 17 21 25 5 10 15 20 25 30 35 40 45 50 32 39 47 O a. It will rise by $11. O b. It will fall by $3. 0 c. O d. O e. 12 12.75 13.75 Refer to the information above to answer this question. If the firm is currently producing an output of 20 using Plant 1 and it decides to build Plant 2, what will happen to its short-run average cost if its output remains unchanged? It will remain unchanged. It will rise by $3. It will fall by $11. 14 13 12.20 11.70 11.30 11 11.30 11.70