Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. lower; higher
C. higher; potential
D. higher; higher
Answer: C
Economics
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When a landscaping company decides to use drafting software and computers instead of hiring designers to draw design plans by hand, it is answering the ________ question
A) why B) how C) opportunity cost D) for whom E) what
Economics
Which of the following is true if the total variable cost curve is rising?
a. Average fixed cost is increasing. b. Marginal cost is decreasing. c. Marginal cost is increasing. d. Average fixed cost is constant.
Economics