Your company produces peanut butter. An increase in the price of peanuts will cause the firm...
Your company produces peanut butter. An increase in the price of peanuts will cause the firm to lower its output because
fixed costs will rise
marginal cost will rise
the price of peanut butter will fall
marginal revenue will fall
Homework Answers
Marginal cost of the firm will rise i.e. to produce every additional unit of peanut butter the firm have to spend more in the market. that will shift the supply curve to the left.
The answer is "B".
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