In the short run, at least one factor of production is fixed. This implies that beyond some level of output a firm will:
A. "learn by doing."
B. experience diminishing marginal returns.
C. experience increasing marginal returns.
D. have a U-shaped long-run average cost curve.
Answer: B
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Suppose that the number of jobs in the fishing industry decreases but the number of jobs in the travel industry increases. Initially, ________
A) the economy remains at full employment B) structural unemployment increases C) there is a shortage of workers in both sectors D) cyclical unemployment increases
For society, more money means more wealth
a. True b. False Indicate whether the statement is true or false
The main disadvantage to forming a corporation is
a. low profits b. double taxation c. small number of owners d. difficulty in raising funds e. stockholders usually control the company
Which of the following questions would a macroeconomist most likely try to answer?
A. What stage of the business cycle is our economy currently in? B. Why do Broadway musicals and airlines have different price discrimination strategies? C. How much would marijuana consumption change if the market became legal? D. Should the 5-Hour Energy firm increase its distribution from national to international?