In the long run, all of a firm's inputs are variable
Indicate whether the statement is true or false
TRUE
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________ does not address the questions related to optimal resource allocation.
a. Comparative-effectiveness analysis b. Economic efficiency c. Cost-benefit analysis d. Cost-effectiveness analysis
Macroeconomics deals with ________ while microeconomics deals with ________
A) choices important to people; choices not important to people B) economywide choices; choices of individuals C) choices that involve money; choices that does not involve money D) choices of rich people; choices of poor people
In a perfectly competitive industry, the industry demand curve
A) must be horizontal. B) must be vertical. C) is upward sloping. D) is downward sloping.
Adolph Berle and Gardiner Means argued that widely held corporations will be run inefficiently by professional managers. Their argument is based on:
A. blockholders' control. B. inefficient product market structures. C. incentive conflicts between shareholders and managers. D. an inefficient market for CEOs.