In the ________, the perfectly competitive firm will react to losses by __________________________.
a. short run; reducing production or shutting down
b. long run; reducing production or shutting down
c. short run; increasing physical inputs
d. long run; increasing capital inputs
a. short run; reducing production or shutting down
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For most years since 1980, the natural unemployment rate was higher in Canada than in the United States. What possible explanation for some of this difference has been suggested?
What will be an ideal response?
Which of the following is true of the production possibilities curve?
a. It assumes a fixed level of technology. b. It assumes resources are fixed. c. It assumes resources are fully employed. d. All of these are correct.
Which of the following countries has experienced the worst hyperinflation since 2005?
a. Brazil b. Russia c. China d. Zimbabwe
As opposed to corporate strategy, business strategy is focused on
A. how to compete with other firms in the industry. B. the type of industry to produce in. C. the type of production technique to use. D. increasing the elasticity of consumer demand.