Practice Quiz

CLEP Economics Exam Prep

Category - Economics

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The owners of Grass Cutters, a lawn-mowing service, decide to purchase four additional mowers because demand for their services is increasing. The owners make this decision projecting that the output, total costs, and total revenues of their business will change in which of the following ways?Output Total Costs Total Revenues
  1. Increase Increase Increase
  2. Increase Increase Decrease
  3. Increase Decrease Increase
  4. Decrease Decrease Increase
Explanation
Answer: A - Increase Increase Increase.
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