Multiple Choice
Which of the following is a long-run adjustment?
A) A new economics professor is hired on campus.
B) General Motors increases its orders for steel.
C) Microsoft cuts back its hiring of new graduates.
D) Glow Electric disassembles one of its nuclear power plants.
E) Texaco buys more crude oil to refine into gasoline.
Correct Answer:

Verified
Correct Answer:
Verified
Q160: Which of the following would not be
Q161: The minimum efficient scale for a firm
Q162: Exhibit 7-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 7-6
Q163: For building contractors, doubling the size of
Q164: Doubling the circumference of an oil pipeline
Q166: If a firm is producing at its
Q167: The graph of average fixed cost is
Q168: Exhibit 7-1 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 7-1
Q169: If a firm experiencing "economies of scale"
Q170: Accounting profit is<br>A)always less than economic profit<br>B)never