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Author Question: Economists define the short run as a period of time so short that A) the amount of output cannot ... (Read 123 times)

asd123

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on: Jun 29, 2018
Economists define the short run as a period of time so short that
 
  A) the amount of output cannot be changed except under diminishing marginal returns.
  B) the amount of output cannot be changed at all.
  C) only one factor of production can be varied.
  D) at least one factor of production cannot be varied.

Question 2

The difference between a firm's total revenue and its total opportunity cost is the firm's
 
  A) normal profit.
  B) economic profit.
  C) marginal profit.
  D) marginal revenue.


macmac

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


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