The short-run cost function is:
a. where all inputs to the production process are variable
b. relevant to decisions in which one or more inputs to the production process are fixed
c. not relevant to optimal pricing and production output decisions
d. crucial in making optimal investment decisions in new production facilities
e. none of the above
b
You might also like to view...
A mixed economy
a) allocates resources according to supply but not demand. b) allocates resources according to demand but not supply. c) allocates resources according to demand and supply. d) allocates resources according to market forces and government intervention.
Tax influence of the elasticity of demand
What will be an ideal response?
_____ is the reward savers earn for deferring consumption.
Fill in the blank(s) with the appropriate word(s).
If a monopolist raises its price
A) it raises the barriers to entry. B) the quantity demanded increases. C) the quantity demanded remains the same. D) the quantity demanded decreases.