In the short run,
a. Some production costs are fixed
b. All inputs are fixed
c. All inputs are variable
d. None of the above
a
You might also like to view...
If the price of bonds is set ________ the equilibrium price, the quantity of bonds demanded exceeds the quantity of bonds supplied, a condition called excess ________
A) above; demand B) above; supply C) below; demand D) below; supply
Suppose the government does not provide an incentive payment to producers under a production quota policy, and the amount that may be produced and sold by firms is limited by law in order to raise the market price to the support price
Do producers still gain surplus value under this version of the production quota policy? A) Yes, they would always achieve a larger producer surplus under this version of the policy B) Yes, as long as the surplus value gained from consumers exceeds the amount of producer surplus lost from production quantities that are no longer produced C) No, they would always face a decrease in producer surplus without the government incentive payment D) No, the change in producer surplus is always negative due to the gains achieved by consumers
Which of the following statements is most correct?
A. Usually expected returns are not associated with risk premiums. B. Usually lower expected returns are associated with higher risk premiums. C. Usually higher expected returns are associated with higher risk premiums. D. Usually higher risk premiums are associated with lower expected returns.
The formula for cross elasticity of demand is percentage change in:
A. quantity demanded of X/percentage change in price of X. B. quantity demanded of X/percentage change in income. C. quantity demanded of X/percentage change in price of Y. D. price of X/percentage change in quantity demanded of Y.