Supply curves applicable to shorter periods of time tend to:
a. be represented by horizontal lines parallel to the quantity axis.
b. be perfectly elastic.
c. be more inelastic than supply curves that apply to longer periods of time.
d. be more elastic than supply curves that apply to longer periods of time.
e. have a price elasticity of supply that is approximately equal to 1.
c
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Currently, well over half of the American workforce is comprised of women.
Answer the following statement true (T) or false (F)
Which of the following are reasons for the increased centralization in school financing?
a. The existence of diseconomies of scale in education. b. A desire by state education agencies to decentralize control. c. A desire to equalize funding across school districts. d. Increasing positive externalities from education as globalization increases.
Assume that a monopoly is producing at a profit-maximizing output level. If the firm's total fixed costs decrease, the firm
A) should lower its price. B) should increase its price. C) should continue to produce at the same level. D) increase its output level.
Given a perfectly competitive market structure at the profit-maximizing output level, a firm's total fixed cost is $15, total variable cost is $137, marginal revenue is $4, and the quantity demanded is 65 . The total profit earned by the firm is $108
a. True b. False Indicate whether the statement is true or false