In the short run, the ratio of the change in total cost and the change in output is greater than the ratio of the change in variable cost and the change in output
a. True
b. False
Indicate whether the statement is true or false
False
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If an economy imposes entry barriers to entrepreneurship:
A) the opportunity cost of entrepreneurship will increase. B) the number of entrepreneurs in the economy will increase. C) the aggregate output in the economy will increase. D) the opportunity cost of entrepreneurship will decrease.
Which of the following is true? a. According to the law of supply, the higher the price of the good, the greater the quantity supplied
b. An individual supply curve is a graphical representation that shows the negative relationship between the price and the quantity an individual is willing and able to supply. c. The market supply curve is the vertical summation of the individual firm supply curves. d. An increase in supply is illustrated by an upward shift in the supply curve.
It is not possible for demand and supply to shift at the same time
a. True b. False Indicate whether the statement is true or false
Which statement is true?
A. There is no one single cause of homelessness. B. Most of the homeless have jobs. C. There are fewer Americans homeless than ten years ago. D. People are homeless because they want to be.