Which of the following firms is most likely to have a constant marginal cost?
A) A firm that is a price taker
B) A firm that has extremely high fixed costs
C) A firm that has extremely high variable costs
D) A firm that faces a horizontal demand curve
B
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According to the Monetarist view, the impact of expansionary monetary policy will be:
a. the same in the long run as in the short run. b. the same regardless of whether the effects of the policy are anticipated or unanticipated. c. a higher price level (inflation). d. a decrease in short-run prices and an increase in long-run prices.
It is likely that the owners have little to do with the day-to-day management of a firm in the case of
A) partnerships only. B) proprietorships only. C) corporations only. D) partnerships and corporations.
Explain how both renters and landlords could be either winners or losers with the imposition of rent control
What will be an ideal response?
A total cost function will start
A. at the origin if there are fixed costs. B. at the origin if there are no fixed costs. C. on the vertical axis if there are no fixed costs. D. on the horizontal axis.