Which of the following is true for a constant cost industry?
a. It uses a relatively large share of available resource inputs
b. It uses a relatively small share of available resource inputs.
c. Industry expansion will put upward pressure on wages and/or other input prices.
d. Both a. and c.
b
Economics
You might also like to view...
Refer to the figure above. If the price of a table is $2, what is John's income?
A) $20 B) $40 C) $60 D) $80
Economics
The primary source of revenue for local governments is the property tax
a. True b. False
Economics
The Federal funds rate and:
a. Discount rate are inversely related b. Prime interest rate are positively related c. Velocity of money are positively related d. Reserve ratio are inversely related
Economics
When the Federal Reserve sells bonds, what is likely to happen to interest rates?
a) They will decrease. b) They will increase. c) They will not change. d) They will fall to zero.
Economics