"Shoe-leather costs" refer to
A) a cobbler's payment for leather.
B) "rubber costs" on today's shoes.
C) the inconvenience imposed by higher interest rates.
D) financial deregulation of retail business firms.
C
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Suppose an individual has state-independent tastes and invests in risky stocks rather than safe bonds. We can infer that he must be risk loving.
Answer the following statement true (T) or false (F)
Countries have trade surpluses when they export more than they import
Indicate whether the statement is true or false
Refer to Table 9.3. In which market do buyers underestimate the chance of getting a lemon?
A. 1 only B. 2 only C. 3 only D. All of these
If price falls below the minimum point on the AVC curve, in the short run the firm should ________, and in the long run the firm should ________.
A. produce where MC = MR; exit the industry B. shut down; exit the industry C. shut down; expand D. produce where MC = MR; expand