Which of the following conditions define the short-run for any industry?
a. Firms do not incur a fixed cost.
b. Firms incur both fixed as well as variable costs.
c. Firms can easily enter and leave the market.
d. Firms can enter but cannot leave the market.
Question 2
From a social viewpoint, when price = marginal cost:
a. the economy as a whole would be better off if more was produced.
b. the economy as a whole would be better off if less was produced.
c. firms would be better off by producing less.
d. the economic efficiency would be attained as a whole.
e. the consumers would be better by consuming less.
Mount Logan, Yukon. Environmental conditions and organisms vary greatly from low to high elevations
The characteristically small and relatively short-legged reindeer from Svalbard
Nanomaterials Applications and Industry Used
The perception of motion under four different conditions.
Conditions Recommended for Prophylaxis Antibiotics
Short Table of Laplace Tranforms