Answer:
B. the quantity of only one factor of production is fixed; the quantities of all factors of production can be varied
Explanation:
- As in the short run a firm can have a conceptual fixed time, while the other factors are variable in amount as the foxed costs have no impacts on the short run but may tend to have an impact on the form longer run that could potentially increase the output that could be increased by increasing the number of variable costs.
- Thus, in short, the form is in a monopolistically competitive market hence the quantity of at least one input is fixed.
The Washburn guitars reduces their price from $2,499 to $2,699 as a result of the sales of the product drastically increased by 30%, So this represents that the <u>product has an elastic demand.</u>
<h3>What do you mean by elastic demand?</h3>
When the price of a product has a massive effect on the quantity purchased is called Elastic demand. A product is stated to have an elastic demand if sales drop sharply in reaction to a growth in price, or sales spike whilst prices are decreased.
Thus, The Washburn guitars reduces their price from $2,499 to $2,699 as a result of the sales of the product drastically increased by 30%, So this represents that the <u>product has an elastic demand.</u>
Learn more about elastic demand:
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Event by event so you know the schedule
Call the cops or leave them be Karen’s
Answer:
D. The economy is almost always at full employmeny.
Explanation:
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