« previous next »

Author Question: Firms' profits or production do not increase in the long run because: a. some factors of production ... (Read 85 times)

lb_gilbert

  • Hero Member
  • *****
  • Posts: 588
on: Jun 30, 2018
Firms' profits or production do not increase in the long run because:
 a. some factors of production are fixed in the long run.
  b. all the factors of production are variable in the long run.
  c. changes in factor costs completely offset any change in the price level.
  d. there exists an excess capacity in the economy in the long run.
  e. factor costs remain fixed in the long run.

Question 2

When one basketball team spends a large sum of money acquiring better players, it is better off. If all teams do the same thing, all of them are better off. These statements demonstrate:
 a. the fallacy of composition.
 b. confusing association with causation.
 c. a misunderstanding of the direction of causality.
  d. the ceteris paribus condition.


cupcake16

  • Sr. Member
  • ****
  • Posts: 309
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

fMRI Machine It is not until after toddlerhood that most children can lie still long enough to have fMRI Machine It is not until after toddlerhood that most children can lie still long enough to have
Feng Mengbo, Long March: Restart. Feng Mengbo, Long March: Restart.
Monozygotic twins’ scores for five personality factors show higher correlations than scores for ... Monozygotic twins’ scores for five personality factors show higher correlations than scores for ...
Ayurvedic massage. Long sweeping stroke from foot around shoulder and down the arm, recipient prone. Ayurvedic massage. Long sweeping stroke from foot around shoulder and down the arm, recipient prone.
Vitamin C contributes to healthy, glowing skin by facilitating the production of collagen Vitamin C contributes to healthy, glowing skin by facilitating the production of collagen
Americium-243 has a decay constant of 9.39 × 10-5 years-1. How long will it take Americium-243 has a decay constant of 9.39 × 10-5 years-1. How long will it take
Video: Glucose Evaluation Procedure

For a complete list of videos, visit our video library