Which of the following is TRUE about the long run?
A. All resources are fixed.
B. At least one resource is fixed.
C. All resources are variable.
D. none of these
Answer: C
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The marginal revenue for a single-price monopoly with a downward-sloping demand curve
A) is less than the price. B) is greater than the price. C) is equal to the price. D) might be more than, less than, or equal to the price, depending on whether the slope of the demand curve exceeds 1.0 in magnitude. E) might be more than, less than, or equal to the price, depending on whether the price elasticity of demand exceeds 1.0 in magnitude.
Under the expectations theory, an upward-sloping yield curve indicates that investors expect future short-term rates to
A) fall. B) rise. C) remain constant. D) either rise or remain constant.
The first attempt for workers in the United States to organize was in
a. 1748 b. 1792 c. 1815 d. 1869 e. 1903
When the price of the product falls
a. consumer's surplus remains the same. b. producers' surplus increases. c. consumer's surplus falls. d. producer's surplus falls.