In the long run, firms can vary all inputs in the production process
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 13-1. Ceteris paribus, an increase in households' expectations of their future income would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
As a currency appreciates:
A) exports increase and imports decrease. B) exports decrease and imports increase. C) exports increase and imports increase. D) exports decrease and imports decrease.
What are the four ways that government policymakers can respond to the problem of monopoly?
When the government sets a price floor which is below the equilibrium price
A) a surplus will develop. B) a shortage will develop. C) the equilibrium price will be maintained. D) a price ceiling will follow.