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If new, more advanced equipment reduces the amount of labor needed to produce an increased level of output, then: a

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If new, more advanced equipment reduces the amount of labor needed to produce an increased level of output, then:

a. The AVC curve will shift upward

b. The MC curve will shift upward

c. The ATC curve will shift downward

d. The AFC curve will shift upward but not by much as the downward shift in the ATC