A firm that experiences only constant returns to scale will have a U-shaped long-run average cost curve.
Answer the following statement true (T) or false (F)
False
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One of the major functions of financial markets is to help people reduce risk. Describe two financial methods people can use to reduce their exposure to risk
What will be an ideal response?
Which of the following would be directly counted in U.S. GDP for 2015?
A) a 2015 Mini Cooper, built in Oxford, England, and sold to a computer programmer in San Jose, California B) a 1957 Chevy Bel Air convertible sold by its original owner to a car collector in Nashville on March 1, 2015 C) a 2015 Harley-Davidson Softail Deluxe, built in Pennsylvania, and sold to a kindergarten teacher in Moose Jaw, Saskatchewan, Canada D) a Tesla car battery, built in 2014 in California, to be installed in a new 2015 Tesla Model S
An increase in the number of tomato producers will
a. increase market supply because the price of tomatoes will rise b. increase market supply because market demand will increase as more tomatoes areproduced c. increase market supply because market supply is the sum of all individual tomato producers' supply curves d. increase market demand but leave market supply unchanged e. increase the price of tomatoes
A firm stands to lose by operating instead of shutting down if ________ does not sufficiently cover ________.
A. operating profit; economic profit B. price; average variable cost C. price; average fixed cost D. total revenue; total costs