In terms of location decisions, firms evaluate the infrastructure of the area in terms of access to transportation as well as the quality of life
Indicate whether the statement is true or false
TRUE
You might also like to view...
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. Given the scenario described, if the market price of hammers decreased from $17 to $12:
A. producer participation in the market would decrease. B. total producer surplus would remain unchanged. C. producer participation in the market would not be affected. D. producer participation in the market would increase.
In the foreign exchange market where French francs are traded for Japanese yen, a decrease in the interest rate in France is most likely to cause:
a. a decrease in the yen price of the French franc. b. an increase in the interest rate in Japan. c. an increase in the yen price of the French franc. d. an increase in the demand for French francs. e. an increase in the supply of yen.
A competitive industry consists of 100 firms. The short-run marginal cost curve for each firm is given by MC = 200 + .3Q. The demand curve faced by the industry is given as P = 400 - .1Q. How much profit is each firm making if fixed costs are $375 per firm?
What will be an ideal response?
If the demand for widgets is inelastic, revenues will ________ if the price of widgets increases.
A. remain the same B. increase C. fall D. one cannot tell what will happen to revenues without specific elasticity numbers