Think about running a restaurant. Probably:
A) cooks and hosts are variable resources.
B) a building is a variable resource in the short run.
C) cheese and other wholesale food items are fixed resources in the short run.
D) valet parking staff is a fixed resource in the long run.
Correct Answer:
Verified
Q49: The long run is:
A) long enough to
Q50: Use the following to answer question:
Figure: The
Q51: Diminishing marginal returns means that:
A) each additional
Q52: Use the following to answer questions:
Q53: In the long run:
A) the firm has
Q55: Use the following to answer questions:
Q56: A farm can produce 1,000 bushels of
Q57: Use the following to answer questions:
Q58: Use the following to answer questions:
Q59: Assuming that all other factors of production
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