A firm's production function shows the:
a. relationship between the inputs and outputs of the firm
b. annual growth rate of revenue of the firm.
c. combination of two goods that the firm can produce given its available resources.
d. combination of two goods that results in the same amount of profit for the firm.
a
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In the United States, the Air Quality Index (AQI)
a. measures the concentration of hazardous air pollutants through monitoring stations b. is used only within the scientific community c. uses numerical values and colors to communicate urban air quality d. includes concentration data for all six criteria pollutants
Which of the following can be a barrier to entry, closing a market to new firms?
A) an elastic industry demand curve B) control of a vital resource by one producer C) diseconomies of scale D) ease of obtaining capital financing
During Prohibition overdose and accidental poisoning due to alcohol _____ and the variation in the quality of alcohol _______
a. fell; fell b. fell; increased c. increased; fell d. increased; increased
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.