The amount of calendar time associated with the long run
A. varies by industry.
B. is less than five years.
C. is between one and five years.
D. is greater than one year.
Answer: A
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Suppose the per-unit production cost of a book is $4.00 and the retail price is $32
If the book publisher sells books to a bookstore at a 40 percent discount, what is the amount of the publisher's markup per book? Assume that bookstores sell books at the retail price. A) $12.80 B) $15.20 C) $19.20 D) $21.60
Since mid-2000, the Fed's only operating target has been
A) M2 money supply growth. B) the discount rate. C) the consumer price index. D) the federal funds rate.
In the short run both the monopolistically competitive firm and the perfectly competitive firm will charge a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false