Corporation A is planning on expanding the size of its factory given the amount they want to produce. Corporation A is now operating in the
A. corporation time.
B. short run.
C. production time.
D. long run.
Answer: D
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The above figure shows the market for laptops. Which of the following causes a movement from A to B?
A) a decrease in the number of laptop manufactures and sellers B) an increase in the cost of hard drives C) an increase in the productivity of the workers manufacturing laptops D) a decrease in the price of laptops E) an increase in the price of laptops
Pierre can produce either a combination of 20 bow ties and 30 neckties or a combination of 35 bow ties and 15 neckties. If he now produces 35 bow ties and 15 neckties, what is the opportunity cost of producing an additional 15 neckties?
A) 2 bow ties B) 15 bow ties C) 20 bow ties D) 35 bow ties
Referring to a production possibilities curve and the goods being compared, depict the economic event. Computerization in the 1990s launched thousands of new businesses in the United States (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve B. A movement from a point on the curve to a point inside the curve C. A shift in the entire curve to the right (outward) D. A shift in the entire curve to the left (inward)
Butter and margarine can function as complements for each other.
a. true b. false