Refer to the above figure. This firm is operating in the
A) long run since economic profits are greater than zero.
B) long run since economic profits are less than zero.
C) short run since economic profits are greater than zero.
D) short run since economic profits are less than zero.
C
Economics
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The optimal hiring rule is to employ labor up to the point where:
A. wage = MFC. B. wage = MP. C. wage = MR D. wage = MRP
Economics
Graphically, an increase in the number of vegetarians will cause the demand curve for Tofu (a meat substitute) to
A. become flatter. B. shift rightward. C. shift leftward. D. become steeper.
Economics