Whether the firm produces or shuts down in the short run, fixed cost is equal to
a. average variable cost
b. total cost
c. sunk cost
d. price
e. marginal cost
Question 2
Economic analysis of product differentiation leads to all of the following conclusions except one. Which is the exception?
a. Product differentiation makes it harder for firms to collude.
b. Product differentiation makes price leadership harder to maintain.
c. Product differentiation sometimes contributes to wasteful allocation of resources.
d. Product differentiation must be based on real, substantive differences among products.
e. There is a tradeoff between using resources efficiently and providing consumers with wide choices.
Cellular changes associated with short-term and long-term memory in the sea slug.
Average winter rainfall and variation in rainfall among sites inhabited by Suromalus ater
On average, the ratio of carbon to nitrogen is much higher in terrestrial plants than in other major
Failure of the Equal Rights Amendment, 1972–1982
Pressure testing the cooling system. A typical hand-operated pressure tester applies pressure equal ...
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product