In the long run:O A. all factors of production are variable.O B.all factors of production are fixed.O C.some factors of production are variable, while at least one factor of production is fixed.O D. None of the above are correct.

The question is asking about the nature of factors of production in the long run. Factors of…

Answered: In the long run: O A. all factors of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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At any given wage-rental ratio, cloth production uses a higher labor-capital ratio than food production; then cloth production is OA. labor-intensiver, capital-intensive OB. capital-intensive; capital-intensive OC. capital-intensive, labor-intensive OD. labor-intensive, labor-intensive. and food production is
How do increases in technology affect the aggregate production funclion? O A. With better technology, the aggregate production function shifts down because fewer workers are neoded O B. Even with technology increases, the aggregate production function will remain constant unless the technology increases are matched by increases in the physical capital stock. O C. As technology increases, diminishing marginal product sets in such that each unit of technology produces less output O D. With increases in technology, the aggregate production function shitfts up, indicating more output is produced from the same amount of inputs.
Nathan owns a bakery that bakes only cakes. All of his bakers work 8 hours per day. In 2006, he employed 5 bakers and they produced 200 cakes each day. In 2007, he employed 6 bakers and they produced 249 cakes each day. In Nathan's bakery, productivity Select one: O a. Increased by 24.,50 percent between 2006 and 2007. O b. Decreased by 2.33 percent between 2006 and 2007. O c Increased by 3.75 percent between 2006 and 2007. d. Increased by 2.33 percent between 2006 and 2007.
Q64 With regard to economic decision making for firms, the short run is... a. A definite number of months. b. Less than one year. c. A period over which the quantities of all factors of production and technology are variable. d. A period over which the quantities of all factors of production are variable but technology is fixed. e. A period over which the quantity of at least one significant factor of production is fixed. Clear my choice
A firm invests $125 million in a new manufacturing plant in your country. What would be the impact on the country's production function? Select one: O a. remain unchanged Ob. shift outwards- c. movement upwards along the same curve O d. movement downward along the same curve O e. shift inwards Next p is page
Suppose the inputs of labour and capital each increase by 8% and output also increases by 8%. The production function exhibits_ returns to scale technology. a. Constant O b. Increasing O c. Decreasing O d. Zero
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please quickly!!!!thanks !!!! If a firm used only labor for production, and given current production is 100, average product is 10, marginal product is 15, we can conclude that: A. the firm should produce more in the long run. B. 10 labors are hired at this time. C. Marginal product and average product will eventually intersect at 10. D. Both B and C
The total product curve studied in class represents the relation between total production by a firm and the quantity variations of total inputs. O True O False
Illegal drug traffickers start to bribe judges and corrupt the justice system. What would be the impact on the country's production function? Select one: O a. shift inwards O b. movement downward along the same curve O . remain unchanged O d. shift outwards O e. movement upwards along the same curve

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In the long run: O A. all factors of production are variable. O B. all factors of production are fixed. O C. some factors of production are variable, while at least one factor of production is fixed. O D. None of the above are correct.