The short run is a time period during which
A) some of the firm's resources are fixed.
B) all of the firm's resources are fixed.
C) all of the firm's resources are variable.
D) the fixed cost equals zero.
E) the firm cannot increase its output.
A
You might also like to view...
As the nominal interest rate increases, the opportunity cost of holding money ________ and the quantity of money demanded ________
A) decreases; decreases B) increases; increases C) decreases; increases D) increases; decreases E) increases; does not change because people need money
Some economists argue that the minimum wage:
A. drives some labor to occur "under the table." B. causes some employers to hire undocumented migrants driving up wages overall. C. leads some employers to pay workers cash and then report these payments to the government. D. All of these are true.
Under rent control, landlords cease to be responsive to tenants' concerns about the quality of the housing because
a. with shortages and waiting lists, they have no incentive to maintain and improve their property. b. they become resigned to the fact that many of their apartments are going to be vacant at any given time. c. with rent control the government guarantees landlords a minimal level of profit. d. with rent control it becomes the government's responsibility to maintain rental housing.
The concept of external cost is associated with a negative externality, but not with a positive externality
a. True b. False Indicate whether the statement is true or false