When the demand for electricity peaks during the hottest days of summer, Florida Power and Light Company can generate more electricity by using more fuel and increasing the working hours of many of its employees
The company cannot, however, increase electric power production by building additional generating capacity. This means that the company is in the A) market run.
B) short run.
C) intermediate run.
D) long run.
B
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Cash payments to a steel mill for steel used in production would be an example of:
a. sunk costs. b. fixed costs. c. explicit costs. d. implicit costs. e. entrepreneurial costs.
Under a system of transferable pollution rights, which of the following firms is most likely to purchase a $500 permit to emit a ton of pollutants in to the atmosphere?
a. a non-polluting firm b. a polluting firm that can reduce emissions at a cost of $500 per ton c. a polluting firm that can reduce emissions at a cost of $200 per ton d. a polluting firm that can reduce emissions at a cost of $600 per ton
Grouping people together within a subunit is likely to
A. lead to empowerment. B. lower the communication and coordination costs within the subunit. C. increase the communication and coordination costs within the subunit. D. lead to boundary setting.
(Consider This) Elastic demand is analogous to a __________ and inelastic demand to a _________
A. normal wrench; socket wrench B. tight rubber band; loose rubber band C. Ace bandage; firm rubber tie-down D. one-foot ruler; tape measure