A variable cost is one that changes
a. in the long run only
b. in the short run only
c. year to year
d. month to month
e. as output changes
E
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The figure above shows the market for college education in the United States
If the government intervenes in the market and provides a subsidy to colleges to enroll the efficient number of students, the amount of the subsidy equals ________ per student. A) $5,000 B) $16,000 C) $13,000 D) $11,000 E) $7,000
Who has a higher bargaining power if the demand for the good being transacted is price-elastic?
What will be an ideal response?
If inflationary expectations on the part of the public increase, the trade-off between inflation and unemployment becomes worse
Indicate whether the statement is true or false
If the U.S. dollar depreciates, then U.S. exports become ____ expensive to foreigners and foreign goods become ____ expensive to U.S. citizens.
Fill in the blank(s) with the appropriate word(s).