Assume that as a firm expands its scale of operation, the minimum point of its short-run average total cost curve is unchanged. In this case, we would say that the firm is experiencing diseconomies of scale
Indicate whether the statement is true or false
FALSE
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Use the following graph to answer the next question.
Which point is not on the perfectly competitive firm's short-run supply curve?
A. E B. F C. G D. H
Which of the following conditions might move the labor supply curve to the left?
a. As the hospital nursing staff grew older, more of them reduced their hours to part time. b. The chance to take part in world-class research inspired candidates to apply for the fellowship. c. A large number of immigrants entered the state in search of better economic opportunities. d. More college graduates than ever were entering the work force with student loans to pay.
Suppose the dollar per pound exchange rate is $2 per pound while the dollar per Swiss franc exchange rate is 50 cents per franc. From the given information we can conclude that the Swiss franc per pound exchange rate is
A. 1 franc per pound. B. 4 francs per pound. C. too high. D. too low.
Which of the following instruments is not used by the Federal Reserve to change the money supply?
A. open market operations B. the federal tax code C. the required reserve ratio D. the discount rate