Which of the following statements is TRUE in the short run?
A) Generally, labor is a fixed input.
B) Generally, capital is a fixed input.
C) Raw materials are generally considered to be fixed inputs.
D) None of the above.
B
Economics
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How does economic growth influence the production possibilities frontier?
What will be an ideal response?
Economics
A firm is a natural monopoly if ________
A. it can produce the good at a price below its competitor's price B. it can produce a larger quantity of the good than other firms could C. the government grants it a public franchise or patent D. it can satisfy the market demand at a lower average total cost than other firms can
Economics