In the short run
A) all inputs are variable.
B) all firms experience increasing returns to scale.
C) some firms experience economies of scale.
D) no firm experiences economies of scale.
D
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The behavior of firms is best understood by focusing on
a. money profit b. economic profit c. accounting profit d. economic profit minus implicit costs e. money profit minus explicit costs
Which of the following would lead to an increase in the demand for computer software?
a. a decrease in the price of computer software b. a decrease in the price of personal computers c. an decrease in the cost of producing computer software d. an decrease in personal income
Refer to the data. If the market price for the firm's product is $28, the competitive firm will:
A. produce 4 units at a loss of $17.40.
B. produce 7 units at a loss of $14.00.
C. shut down in the short run.
D. produce 6 units at a loss of $23.80.
The highest rate of U.S. growth was recorded in which of the following periods?
A) 1948-73 B) 1967-83 C) 1974-95 D) 1996-2008