One reason many people make their own pickles rather than buy them is that
a. they can maintain control over the quality during production
b. the total cost of ingredients is the same as the price of store-bought pickles
c. firms do not make high-quality pickles
d. people place a high value on their time
e. firms do not produce goods that can be made at home
A
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A large U.S. steel firm wants to restrict imports of Japanese steel, but Ford Motor Company wants fewer restrictions on steel so that the price of steel will go down. This can best be described as
a. a zero-sum game b. a competing-interest situation c. a special-interest situation d. a situation without widespread costs and benefits e. an argument over distribution of a public good
In the long run, total fixed cost:
a. falls. b. rises. c. is constant. d. does not exist.