A firm has fixed costs
A) in the short run and in the long run.
B) in the short run but not in the long run.
C) in the long run but not in the short run.
D) neither in the long run nor in the short run.
B
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One of the reasons government debt is different from individual debt is:
A. the government debt is unrelated to income. B. all government debt is owed to other government agencies. C. government never really needs to pay back its debt. D. government does not pay interest on its debt.
The classical dichotomy refers to the idea that the supply of money
a. is irrelevant for understanding the determinants of nominal and real variables. b. determines nominal variables, but not real variables. c. determines real variables, but not nominal variables. d. is a determinant of both real and nominal variables.
An economy's ________ during a recession
A) labor supply curve shifts to the right B) labor demand curve shifts to the right C) labor supply curve shifts to the left D) labor demand curve shifts to the left
The market for a particular good is more likely to be local
a. the lower the cost of transporting the good and the greater the ease of communication between buyers and sellers b. the higher the cost of transporting the good and the greater the ease of communication between buyers and sellers c. the lower the cost of transporting the good and the greater the ease of determining the good's quality d. the lower the cost of transporting the good and the more difficult the communication between buyers and sellers e. the higher the cost of transporting the good and the more difficult the communication between buyers and sellers