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Author Question: Which of the following statements best represents a difference between short-run and long-run cost? ... (Read 19 times)

strangeaffliction

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on: Jul 1, 2018
Which of the following statements best represents a difference between short-run and long-run cost?
 
  A) Less than one year is considered the short run; more than one year the long run.
  B) There are no fixed costs in the long run.
  C) In the short-run labor must always be considered the variable input and capital the fixed input.
  D) All of the above are true.

Question 2

There is an indifference curve through every bundle because of the assumption of
 
  A) transitivity.
  B) completeness.
  C) rationality.
  D) nonsatiation.


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bfulkerson77

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


strangeaffliction

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

dreamfighter72

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Reply 3 on: Yesterday
Gracias!

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