Industries in which firms ________ are likely to expand in the long-run.
A. break even
B. have positive profits
C. shut down in the short run
D. suffer losses
Answer: B
You might also like to view...
Suppose the exchange rate is initially set at 120 yen per dollar and increases to 140 yen per dollar. This would be expected to cause the price of Japanese goods in the U.S. economy to
A. decrease. B. change in a manner that cannot be determined without additional information. C. remain the same since domestic demand remains the same. D. increase.
The protection of property rights leads to
A) more poverty. B) more illiteracy. C) more capital formation. D) unemployment.
Which of the following countries is lacking an abundance of natural resources?
a. Australia b. Japan c. Brazil d. United States
Carl is considering attending a concert with a ticket price of $35 . He estimates that the cost of driving to the concert and parking there will total an additional $20 . In order to attend the concert, Carl will have to take time off from his part-time job and forgo studying for an exam scheduled for the next morning. He estimates that he will lose 3 hours at work, at a wage of $6 per hour, plus
2 hours of study time. Carl's opportunity cost of attending the concert equals a. $73 plus the value of the higher exam grade he could earn by studying longer b. $73 c. $35 plus the value of the higher exam grade he could earn by studying longer d. $35 e. $55 plus the value of the higher exam grade he could earn by studying longer