Which of the following statements is true?
A) In the long run, a firm cannot vary any of its inputs.
B) In the long run, a firm can vary all its inputs.
C) In the short run, a firm cannot vary any of its inputs.
D) In the short run, a firm can vary all its inputs.
B
Economics
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A firm operating in a competitive market will stay in business in the long run so long as the market price is equal to or exceeds the firms average total cost; otherwise, the firm will shut down
Answer the following statement(s) true (T) or false (F)
Economics
If the wage paid to workers increases, the labor demand curve:
A. will not shift. B. shifts to the left and fewer workers are hired. C. shifts to the right and more workers are hired. D. shifts to the right and fewer workers are hired.
Economics