A dramatic increase in the birth rate will have what immediate effect on the disposable diaper market?
a. supply decreases now
b. supply increases now
c. demand decreases now
d. demand increases now
e. supply and demand stay the same now
D
Economics
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The short run is a time period that is
A) equal to a day. B) too short to change the amount of labor hired. C) too short to change the size of the firm's plant. D) long enough to change the size of the firm's plant. E) too short to change the amount of any resource the firm employs.
Economics
Comment on the following statement: "The shape of the long-run average cost curve is determined by diminishing returns."
What will be an ideal response?
Economics