The total cost to a firm of producing zero units of output is
a. zero in both the short run and the long run
b. its fixed cost in the short run, zero in the long run
c. its fixed cost in the long run, zero in the short run
d. its fixed cost in both the short run and the long run
e. its variable cost in both the short run and the long run
B
Economics
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Gross income net of taxes is known as ________
A) Gross Domestic Product, or GDP B) disposable income C) Gross Domestic Product per capita D) retained earnings
Economics
Helen's Honey Hut supplies 20 jars of honey per week when the price of honey is $6 per jar and supplies 30 jars per week when the price of is $8 per jar, so the price elasticity of supply over this price range is 1.4
a. True b. False Indicate whether the statement is true or false
Economics