How can the government cut the cost of negotiation among car owners regarding LoJack installation?
a. The government can impose a quota on the import of LoJacks.
b. The government can invite public opinion on LoJacks.
c. The government can limit the number of companies producing LoJacks.
d. The government can randomly select cars to install LoJacks.
D
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A firm earning economic losses should operate in the short run as long as
A) the price per unit sold is greater than the average fixed cost per unit produced. B) the price per unit sold is greater than the average variable cost per unit produced. C) marginal revenue is at least the price per unit sold. D) the price per unit sold is equal to or greater than the marginal cost of production.
If the percentage change in quantity supplied is 0%, and the percentage change in price is 10%, then the supply for the good is
A. unit elastic. B. perfectly inelastic. C. inelastic. D. elastic.
The law of diminishing returns states that as
A) the size of a plant increases, the firm's fixed cost decreases. B) the size of a plant increases, the firm's fixed cost increases. C) a firm uses more of a variable input, given the quantity of fixed inputs, the marginal product of the variable input eventually diminishes. D) a firm uses more of a variable input, given the quantity of fixed inputs, the firm's average total cost will decrease eventually.
A supply chain driven by forecasts of consumer demand follows a ________ model.
A. push-based B. optimized C. based-push D. pull-based