The supply of lettuce in the short run will be ________ than the supply in the long run and ________ than the supply today.
A) more elastic; less elastic
B) more elastic; more elastic
C) less elastic; more elastic
D) less elastic; less elastic
Question 2
The table above gives production information for Bob's Baseball Cap Company. Bob's total cost when zero caps are produced is 200 and workers cost 10 per hour. The average variable cost of producing 10 baseball hats per hour is
A) 1.
B) 2.
C) 20.
D) More information is needed to answer the question.