Assume a certain firm regards the number of workers it employs as variable.When is this variable assumption often realistic
A) If the size of its factory is fixed, then it refers to the short run.
B) If the size of its factory is fixed, then it refers to the long run.
C) If the size of its factory is not fixed, then it refers to the short run.
D) If the size of its factory is not fixed, then it refers to the short run and the long run.
Correct Answer:
Verified
Q52: Let L represent the number of workers
Q53: When a firm's only variable input is
Q54: On a 100-acre farm,a farmer is able
Q55: What do we know about fixed costs
A)They
Q57: What distinguishes short-run cost analysis from long-run
Q58: Which costs do NOT vary with the
Q59: Suppose Jan is starting up a small
Q60: Figure 13-2
The figure depicts a total cost
Q61: Scenario 13-4
A firm experiences decreasing marginal product
Q177: If a firm produces nothing, which of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents