Bart operates a lemonade stand in front of his house. His father works at the Springfield Nuclear Power Plant. Which of the following is most likely to be true?
a. The long run is the same for the power plant as it is for the lemonade stand.
b. The long run is longer for the power plant than it is for the lemonade stand.
c. The long run is shorter for the power plant than it is for the lemonade stand.
d. We cannot compare the long runs because these are different businesses.
e. It's impossible for the power plant short run to be shorter than the lemonade stand's long run.
B
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Frictional unemployment would increase when
A) migrant workers are unemployed after harvest season. B) the number of individuals who quit one job to find another increases. C) discouraged workers drop out of the work force. D) workers are replaced by machines in production.
Exhibit 8-15 Short-run cost curves for E-Z Care lawn mowing company
In Exhibit 8-15, what market price would cause E-Z-Care to just break even?
A. $6 per lawn. B. $8 per lawn. C. $12 per lawn. D. $16 per lawn.