If a firm has excess capacity, it means
A) that the firm's long-run average cost of producing a given quantity exceeds its short-run cost of producing that same quantity.
B) that the firm's quantity supplied exceeds its quantity demanded.
C) that the firm expends too much of its resources on advertising its product without seeing an appreciable increase in sales.
D) that the firm is not producing its minimum efficient scale of output.
D
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Which of the following will not increase a nation's real GDP?
A. number of workers B. average price level C. technological progress D. labor productivity
The entry of China and other developing countries into the global economy ________ the value of marginal product of factory workers in the United States and ________ their wage rate
A) increases; lowers B) decreases; raises C) decreases; lowers D) increases; raises
What happens to the price of the product and total revenue for a perfectly competitive firm if it doubles the amount of output it supplies in the market?
What will be an ideal response?
The price of the stock divided by the profits per share of stock is known as the
A. yield in percent per year. B. price-earnings ratio. C. number of shares traded during the day. D. dividend.