Which diagram best represents the problem faced by farms in the long run?





A.  A.

B.  B.

C.  C.

D.  D.


A.  A.

Economics

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Blue pens and black pens are close substitutes. The cross elasticity of demand for black pens with respect to the price of blue pens is ________

A) positive B) negative C) equal to 1 D) zero

Economics

Fogel's work (1964) on the economic impact of railroads is mostly written in response to

(a) Rostow's takeoff theory. (b) Schumpeter's theory of railroads building ahead of demand. (c) David's theory of path dependency. (d) Engerman's theory of multiroute analysis.

Economics

In general, pollution exists if

A) people are unconcerned about the hazards associated with pollution. B) there are poorly defined private property rights. C) there are poorly defined common property rights. D) profit-making activity is taken to an extreme.

Economics

A decrease in the interest rate will: a. increase the amount of money borrowed by firms

b. decrease the amount of money borrowed by firms. c. have an ambiguous effect on the amount of money borrowed by firms. d. have no effect on the amount of money borrowed by firms.

Economics