The most liquid asset is ________
A) stocks
B) bonds
C) cash
D) real estate
E) none of the above
C
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Refer to Horizontal Merger. The result of the merger is
a. a decrease in marginal costs. b. an increase in the quantity supplied. c. a decrease in the price. d. an increase in consumer surplus.
Refer to Figure 24-3. Which of the points in the above graph are possible long-run equilibria?
A) A and B B) A and C C) A and D D) B and D
In the long-run production function, all of the inputs to the production process are allowed to vary
Indicate whether the statement is true or false
Suppose that each worker must use only one shovel to dig a trench, and shovels are useless by themselves. In the long run, an increase in the price of shovels will result in
A) fewer shovels being purchased to produce the same number of trenches. B) more workers being hired to produce the same number of trenches. C) the firm wishing to produce more trenches. D) no change in the firm's input mix.