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Question
In economics, the planning horizon is defined as
A) 10 years for every firm.
B) the longest time period over which the firm can make decisions.
C) the period of time for which technology is fixed.
D) the long run, during which all inputs are variable.
Answer
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Related questions
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Q:
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Why should a perfect competitor produce at which price equals marginal cost?
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Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $7 per item. We can conclude that the firmʹsA) accounting profit was $1,000, and its economic profit was -$500. B) accounting and economic profits were both $1000.C) accounting profit was -$500, and economic profit was $1,000. D) accounting profit was $1000, and economic profit was -$1,500.
Q:
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Why?
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Which of the following type of shops is unlawful under the provisions of the Taft -Hartley Act?A) union shops B) closed shopsC) modified union shops D) open shops