1. In the short run,
2. If revenues exceed ________, operating profit is ________.
3. At the Pampered Pet Salon the marginal products of the first, second, and third workers are 20, 16, and 10 dogs washed, respectively. The total product (number of dogs washed) of the two worker is
4. There are 100 dog kennels in Atlanta. An economist studying the pricing behavior of dog kennels tells you that she is limiting her analysis to a time period that does not allow for any new dog kennels to enter the industry or for any established dog kennels to leave the industry. The time period this economist referred to is the
5. In the short run, a firm
6. Average fixed costs
7. A firm will begin to experience diminishing returns at the point where
8. If diminishing marginal returns have already set in for The Picture Perfect Framing Store and the marginal product of the fifth picture framer is 20, then the marginal product of the sixth picture framer must be
9. Economists usually assume that ________ is a fixed input in the ________ run.
10. Demand for the services of Derek Jeter is