Short run refers to a period of time during which:
a. all the factors are constant.
b. all the factors are variable.
c. the producer can shift from one plant size to another.
d. some factors are fixed while some others are variable.
e. the producer cannot change the level of output.
d
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The following is a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant.Units of ResourceTotal Product124242460680792If the product the firm produces sells for a constant $3 per unit, the marginal product of the fourth unit of the resource is
A. $15. B. $18. C. $27. D. $45.
Suppose U.S. interest rates fall. This reduction in U.S. interest rates will cause which of the following to occur?
A) an outflow of capital from the United States B) no change in foreign investment in the United States C) an increase in the value (appreciation) of the U.S. dollar D) an inflow of capital to the United States
Which of these does not interfere with the price mechanism?
A. Usury laws B. Minimum wage laws C. Farm price supports, or price floors D. The law of supply and demand
The Clayton Act exempted ________________ from prosecution under the Sherman Act.
Fill in the blank(s) with the appropriate word(s).