Firms are assumed to ________ costs and to ________ profits?

Related Mcqs:

The price of computer chips used in the manufacture of personal computers has fallen. This will lead to _________ personal computer?

A. a decrease in the quantity supplied of B. a decrease in the supply of C. an increase in the quantity supplied of D. an increase in the supply of...

Supply is likely to be more price elastic ?

A. In the short run rather than the long run B. If factors of production are relatively immobile between industries C. If there are very few producers D. If it is easy to expand output...

The income effect of a price increase of a normal good is to ________ of that good and the substitution effect is to _________ of that good?

A. increase quantity demanded, reduce quantity demanded B. increase quantity demanded, increases quantity demanded C. reduce quantity demanded, reduce quantity demanded D. reduce quantity demanded, increase quantity demanded...

An increase in aggregate demand if aggregate supply is totally inelastic will ?

A. increase price but not output B. increase output but not price C. increase output and price D. decrease output and price...

The price elasticity of demand is a negative number this means ?

A. Demand is price elastic B. Demand is price inelastic C. The demand curve is downward sloping D. An increase in income will reduce the quantity demanded...