Suppose you can earn 5 percent on your savings account if you deposit $500 in it. The inflation rate is 3 percent. The opportunity cost of holding the $500 as money is

The factor of production that is always fixed in the short run is

a. the amount of raw materials b. the size of the physical plant c. the number of workers d. energy costs e. quantity of output

Big Roads and Big Pavers are two competing road construction firms. The managers of these two firms should never undertake all of the following actions except which one?

A) agree to submit a high bid on a contract B) agree to submit a low bid on a contract C) agree to the number of contracts the firms will bid on D) share information and experiences from implementing new government safety standards