In the short run,
a. utilization of any input can be varied
b. production takes less than one year
c. all resources are limited in supply
d. utilization of some inputs is assumed constant
e. equilibrium cannot occur
D
Economics
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The turnpikes built in the early 1800s were
(a) intercity toll roads. (b) highly profitable enterprises. (c) financed entirely by private enterprise. (d) regulated by the federal government.
Economics
Lisa runs a local flower shop. If it rains on Valentine's Day and she opens the shop, she will lose $200. If it does not rain on Valentine's Day, she will earn $500 dollars as profits
What is Lisa's expected profit on Valentine's Day if she only knows that there is a 30% chance of rain that day? A) $350 B) $290 C) $200 D) $150
Economics