42. Economic profit always exceeds accounting profit. ____ 43. The period of tim

Question

42. Economic profit always exceeds accounting profit.

____ 43. The period of time that is too short for the firm to change the quantity of certain resources used in production, known as fixed inputs, is called the short run.

____ 44. One would expect to observe a diminishing marginal product of labor when crowded office space reduces the productivity of new workers.

____ 45. The market demand curve in a perfectly competitive industry is downward sloping, while the demand curve faced by an individual perfectly competitive firm is horizontal.

Explanation / Answer

F,T,T

Related Questions

Navigate

• Browse (All)
• Browse 4
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.