**12.** Suppose a manufacturing firm learns that its annual property tax payments will decrease. We would depict this by:

- shifting the average fixed cost, the marginal cost, and the average total cost curves up.
- shifting the average total, the average fixed, and the average variable cost curves down.
- shifting the marginal cost, the average variable cost, and the average fixed cost curves down.
- shifting the marginal cost, the average total cost, and the average fixed cost curves down.
- shifting the average total, and the average fixed cost curves downward.

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