Multiple Choice
In the short run,
A) none of the firm's resources are variable.
B) at least one of the firm's resources cannot be varied.
C) the time period always covers one year.
D) all of the firm's resources are variable.
E) technically efficient production is not possible.
Correct Answer:

Verified
Correct Answer:
Verified
Q148: When marginal cost is greater than average
Q149: Consider the following string of numbers: 20,
Q150: The short-run average total cost curve gets
Q151: Average total cost equals marginal cost when<br>A)MC
Q152: A firm is at the breakeven point
Q154: If a firm is currently producing zero
Q155: Explain why average cost is not necessarily
Q156: The distance between the average total cost
Q157: Economies of scope occur when<br>A)two firms producing
Q158: Fixed costs do not exist in the