A firm’s fixed cost
A. does not vary with output.
B. does not change between the short run and the long run.
C. is generally a higher percentage of its total cost at high output quantities than at low output quantities.
D. All of the above are true.
Answer: A
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In which decade did the labor force participation rate for women in the United States first rise to above 50%?
A) 1940s B) 1960s C) 1970s D) 1990s
A tariff hurts
A) the government by decreasing its revenue. B) domestic producers who can't compete with cheaper imports. C) consumers who pay more for the imported good. D) All of the above answers are correct.
Explain what is meant by economic efficiency. Does efficiency imply that the fastest production processes or the most powerful equipment must always be used? Explain
What will be an ideal response?
The first federal antitrust law enacted in the United States was:
a. The Clayton Act b. Thr Sherman Antitrust Act c. The Robinson Patman Act d. The Federal Trade Commission Act e. The Herfindahl-Hirschman Act