Cost Curves
Indicate whether each of the following involves an upward or downward shift in the long-run average cost curve or, instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing, or uncertain effect on the level of average cost.
A. A rise in wage rates
B. A decline in output
C. An energy-saving technical change
D. A fall in interest rates
E. An increase in learning or experience