McDonald's is a fast-food restaurant chain. Which of the following would be a long-run decision for McDonald's?
A) open a new restaurant in a city
B) hire one more worker in a restaurant location
C) supply more hamburgers in one restaurant
D) replace the manager of a restaurant
Answer: A
Economics
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A decrease in the price of a fixed factor of production decreases total cost and
A) increases marginal cost. B) leaves marginal cost unchanged. C) decreases marginal cost. D) increases variable cost.
Economics
Refer to Figure 27-3. In the graph above, suppose the economy is initially at point A. The movement of the economy to point B as shown in the graph illustrates the effect of which of the following policy actions by Congress and the president?
A) a decrease in government purchases B) a decrease in income taxes C) a decrease in interest rates D) an increase in the money supply
Economics