Suppose that once a well is dug, water flows out of it continuously without any additional effort. Customers collect their water and pay a per gallon fee when they leave the site of the well. In the short run, the competitive firm in this market
A) has no variable costs.
B) has no fixed costs.
C) will shut down.
D) can produce water at no cost.
A
Economics
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Money's most narrow definition is based on its function as a
A) store of value. B) unit of account. C) standard of deferred payment. D) medium of exchange. E) standard of barter.
Economics
If the expected future earnings of a company goes up, you would expect the price of its stock to
A. rise. B. fall. C. be unaffected. D. fall to zero.
Economics