Which of the following statements is FALSE?
A) The length of time that the short run lasts will vary from firm to firm and industry to industry.
B) In the short run there is at least one fixed factor of production.
C) In the short run at least one input is variable.
D) Labour can never be fixed in the short run.
Correct Answer:
Verified
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Q23: A firm's total revenue is:
A) marginal revenue
Q24: When price is greater than marginal revenue,
Q25: When a firm sells each unit of
Q26: On the upward- sloping portion of a
Q28: If all factors are variable and their
Q29: A firm that is a price taker:
A)
Q30: If a firm doubles its use of
Q31: We can construct a LRAC curve from
Q32: Which of the following defines profit satisficing?
A)
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