Which of the following statements is true?
A) In the long run, a firm cannot vary any of its inputs.
B) In the long run, a firm can vary all its inputs.
C) In the short run, a firm cannot vary any of its inputs.
D) In the short run, a firm can vary all its inputs.
B
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To determine if a market is an oligopoly, we need to determine if
A. the market's HHI is less than 900. B. the firms are so few that they recognize their mutual interdependencies. C. cartels are legal in their market. D. the firms make identical or differentiated products. E. there are many firms in the market.
An open market sale of T-bonds by the Fed causes the money supply to
a. fall and bond prices to fall. b. rise and bond prices to fall. c. rise and bond prices to rise. d. fall and bond prices to rise.
The long-run supply curve is upward sloping in an increasing cost industry.
Answer the following statement true (T) or false (F)
East Asian economies have grown
A) rapidly because of high saving rates. B) rapidly despite a lack of property rights. C) slowly because of a lack of property rights. D) slowly because of low saving rates. E) rapidly because they virtually eliminated international trade.