Choose the correct answer from the following options: An increase in the wage rate ____. Shifts the average total cost curve and the marginal cost curve upward Shifts the average fixed cost and average variable cost curve upward Increases average variable cost but does not change marginal cost Does not change average variable cost but increases average total cost

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Chapter 14, Problem 6MCQ

To determine

Choose the correct answer from the following options: An increase in the wage rate ____.

Shifts the average total cost curve and the marginal cost curve upward
Shifts the average fixed cost and average variable cost curve upward
Increases average variable cost but does not change marginal cost
Does not change average variable cost but increases average total cost

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