Rising per-unit production costs are most directly associated with:
A. frictional unemployment.
B. structural unemployment.
C. demand-pull inflation.
D. cost-push inflation.
D. cost-push inflation.
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Why is it difficult to determine whether an industry is operating efficiently when there is rapid technological process underway?
What will be an ideal response?
Refer to Figure 13-17. Suppose the firm is currently producing Qf units. What happens if it increases its output to Qg units?
A) It will move from a zero profit situation to a loss situation B) Its average cost of production will fall and its profit will rise. C) It will move from a zero profit situation to a profit situation D) It will be taking advantage of economies of scale and will be able to lower the price of its product.
Owners of a corporation have limited liability for the debts of the business
a. True b. False Indicate whether the statement is true or false
One way to allocate the scarce good created from an effective price ceiling is to:
A. give them to the friends and family of the producers. B. offer it on a first-come, first-served basis. C. ration a certain quantity per household. D. All of these are examples of allocating using non-price methods.