Lee, J Brand, Joe's Jeans, Paper Denim & Cloth, Levi's, Wrangler, and many others are all producers of jeans. J Brand jeans sell for $200 a pair
Suppose at the short-run profit maximizing quantity, J Brand's ATC was $180 and AVC was $100, which statement is TRUE? A) J Brand will produce in the short and long run.
B) J Brand will produce in the short run but go out of business in the long run.
C) J Brand will shut down in the short run and go out of business in the long run.
D) J Brand will produce in the short run and shut down in the long run.
A
You might also like to view...
Which of the following is most likely to cause a rightward shift in the demand curve for dollars in exchange of the Chinese yuan?
A) An increase in the demand for Chinese products in the U.S. B) An increase in the demand for U.S. products in China C) A decrease in the demand for Chinese products in the U.S. D) A decrease in the demand for U.S. products in China
A major source of inefficiency in barter economies is that they require
A) a standard of deferred payment to make trade possible. B) a double coincidence of wants in exchange. C) more liquid stores of value than do monetary economies. D) All of the above are correct.
The populations of the developing nations are growing:
A. at about 5 percent per year. B. at about the same rate as those of the industrially advanced nations. C. slower than those of the industrially advanced nations. D. faster than those of the industrially advanced nations.
A perfectly price elastic demand curve will be a ________ line.
A. horizontal B. positively sloped C. vertical D. negatively sloped