Which of the following represents a long-run adjustment?
A) A farmer uses an extra dose of fertilizer on his corn crop.
B) Unable to meet foreign competition, a U.S. watch manufacturer sells one of its branch plants.
C) A steel manufacturer cuts back on its purchases of coke and iron ore.
D) A supermarket hires four additional clerks.
Correct Answer:
Verified
Q100: Accounting profits equal total revenue minus
A)total explicit
Q101: The basic characteristic of the short run
Q102: The long run is characterized by
A)the relevance
Q103: The following is cost information for the
Q104: Maria's Mexican Cantina is a restaurant that
Q106: The amount of calendar time associated with
Q107: Economic costs are equal to
A)the opportunity costs
Q108: Harvey quit his job at State University,
Q109: Which of the following is a short-run
Q110: Harvey quit his job at State University,
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