Refer to the data. If the firm closed down in the short run and produced zero units of output, its total cost would be:
A. zero.
B. $50.
C. $150.
D. $100.
B. $50.
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The required-reserve ratio is equal to a commercial bank's
A. required reserves divided by its checkable-deposit liabilities. B. excess reserves divided by its required reserves. C. checkable-deposit liabilities multiplied by its excess reserves. D. checkable-deposit liabilities divided by its required reserves.
Which of the following would NOT be a factor that has contributed to the rising female labor force participation rate?
A) greater access to training B) greater access to education C) increasing family size D) reduction of barriers to competing with men for jobs
What is the main difference between the law of demand and the price elasticity of demand?
Please provide the best answer for the statement.
Refer to the graph below, showing the long-run supply and demand curves in a purely competitive market. The curves suggest that in this industry, the marginal benefit to consumers of each unit of the product is:
A. Constant
B. Increasing
C. Decreasing
D. Not indicated in the graph