Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 9, Problem 2RQ
Which of the following are short-run and which are long-run adjustments? LO9.1
a. Wendy’s builds a new restaurant.
b. Harley-Davidson Corporation hires 200 more production workers.
c. A farmer increases the amount of fertilizer used on his corn crop.
d. An Alcoa aluminum plant adds a third shift of workers.
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6.Which of the following are short-run and which are long-run adjustments? LO3
a.Wendy’s builds a new restaurant.
b.Harley-Davidson Corporation hires 200 more production workers.
c.A farmer increases the amount of fertilizer used on his corn crop.
d.An Alcoa aluminum plant adds a third shift of workers.
Variable Input 1 Variable Input 2
Fixed Input
$30
$20
$40
Price
A
Marginal Product
60
B
Suppose you are the manager of Super Suds, a large manufacturer of laundry detergent that uses two variable
inputs and one input that is fixed in the short-run.
Refer to the table above. In the short run, if A = 40 and B = 40, which of the following is true?
Select one:
O A. You should buy more of Input 1 and less of Input 2.
O B. You should buy more of Input 2 and less of Input 1.
OC. You should buy less of the Fixed Input.
O D. Your firm is minimizing costs.
Lesson 7- Production
Question 10
Chapter 9 Solutions
Microeconomics
Ch. 9.2 - Prob. 1QQCh. 9.2 - Prob. 2QQCh. 9.2 - Prob. 3QQCh. 9.2 - Prob. 4QQCh. 9.5 - Prob. 1QQCh. 9.5 - Prob. 2QQCh. 9.5 - Prob. 3QQCh. 9.5 - Prob. 4QQCh. 9.8 - Prob. 1QQCh. 9.8 - Prob. 2QQ
Ch. 9.8 - Prob. 3QQCh. 9.8 - Prob. 4QQCh. 9 - Prob. 1DQCh. 9 - Prob. 2DQCh. 9 - Prob. 3DQCh. 9 - Prob. 4DQCh. 9 - Prob. 5DQCh. 9 - Prob. 6DQCh. 9 - Prob. 7DQCh. 9 - Prob. 8DQCh. 9 - Prob. 1RQCh. 9 - Which of the following are short-run and which are...Ch. 9 - Prob. 3RQCh. 9 - Indicate how each of the following would shift the...Ch. 9 - Prob. 5RQCh. 9 - Prob. 6RQCh. 9 - Prob. 1PCh. 9 - Prob. 2PCh. 9 - Prob. 3PCh. 9 - Prob. 4P
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