Author Question: The short-run cost function is: a. where all inputs to the production process are variable b. ... (Read 141 times)

mynx · **on:** Jul 1, 2018

The short-run cost function is:
a. where all inputs to the production process are variable
b. relevant to decisions in which one or more inputs to the production process are fixed
c. not relevant to optimal pricing and production output decisions
d. crucial in making optimal investment decisions in new production facilities
e. none of the above

Question 2

In the problem of double marginalization, the resulting price is ______than if the manufacturer and the retailer were to merge
a. Higher
b. Lower
c. The same
d. None of the above