Short Run-At least one resource is fixed

Can someone please help me in finding out the accurate answer from the following question. In short run: (1) The quantities of all firm’s resources are variable. (2) Managers are less proficient than they are in long run. (3) At least one of the resources is fixed in quantity utilized. (4) Total fixed costs will be less than in long run.

View Complete Question

Related Questions in Microeconomics

Q : Goals of the Firm-Profit Maximization

The supposition that firms try to maximize the profits: (i) Is the beginning point for most of the economic analyses of how firms function. (ii) Can be wrong for the cases in which the professional corporate managers maximize their own self interests rather than the i

Q : Examples of pure economic rent The

The clearest illustrations of pure economic rent are payments: (1) for improvements which increase the productivity of resources. (2) to owners of unimproved land. (3) exceeding the productivity of a resource. (4) received by owners of homogeneous res

Q : Potential advantage offer by Oligopolies

Oligopolies offer a potential advantage to society since them: (w) may be capable to amass the huge resources required for modern research and growth. (x) tend to be more socially responsible than small firms. (y) typically maximize long run quite tha

Q : Illustration of Cartels The

The Organization of Petroleum Exporting Countries (OPEC) is an illustration of: (w) a monopoly. (x) monopolistic competition. (y) a cartel. (z) decentralized communism. Can someone explain/help me with best solution about problem o

Q : Union Strategies and the Taft-Hartley

The union strategy made illegal through the Taft-Hartley Act of 1948 was: (1) Jurisdictional strikes centered on which the unions would symbolize a firm’s staff. (2) Contracts in which the firms agreed to preferentially encourage the union members. (3) ‘Ri

Q : Central bank as lender of last resort

The central bank performs as lender of last resort. Explain how? Answer: The central bank too acts as lender of last resort for other banks of the country. This mea

Q : Contestable markets and purely

Contestable markets and purely competitive markets are related in that both: (w) consist of large numbers of firms. (x) consist of firms who are price takers. (y) are characterized by easy entry. (z) are characterized by large economies of scale.

Q : Characteristics of a purely competitive

NOT between characteristics of a purely competitive industry would be as: (w) large numbers of potential buyers and sellers. (x) long-run freedom of entry and exit. (y) modern technology that dictates large firms. (z) buyers have no influence on price

Q : Consuming equal successive units of good

The idea that additional satisfaction ultimately declines from consuming equivalent successive units of any good is the law of: (1) Consumer deficits. (2) Equivalent marginal utilities per dollar. (3) Diminishing marginal utility. (4) Veblen’s inequality. (5) Co

Q : Price elasticity of demands for moving

Moving from point d to point e beside demand curve D, the price elasticity of demands of DVDs of video games at equal: (a) 0.8. (b) one. (c) 1.10. (d) 1.25. (e) 2.50

Discover Q & A

Leading Solution Library

Avail More Than 1422178 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1953783
Asked

3,689

Active Tutors

1422178

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment