If a firm can vary all of its factors of production, it is operating in
A) the long run.
B) the immediate run.
C) equilibrium.
D) the short run.
Answer: A
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"When a person has an absolute advantage in producing a good, the person necessarily has a lower opportunity cost of producing it." Is this assertion true or false?
What will be an ideal response?
If the marginal social cost of generating a kilowatt of electricity is $0.10 and the marginal private cost is $0.08, what is the marginal external cost?
A) $0.18 B) $0.10 C) $0.08 D) $0.02 E) $0.80
Which of these events would indicate a movement along a supply curve for batteries?
a) Workers at a major battery factory go on strike and stop production b) A new law requires battery manufacturers to spend more money on environmentally-sound trash disposal c) Battery manufacturers raise the price of eight AA batteries from $3.50 to $3.95 a set. d) A new trade agreement enables stores to import foreign batteries
Fiscal policy and monetary policy have a similar ________ time lag.
A. response B. recognition C. implementation D. structural