Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If input prices are fixed in the short run but can vary in the long run, high demand for inputs will push input prices up,

If input prices are fixed in the short run but can vary in the long run, high demand for inputs will push input prices up, and firm profits begin to fall, which means Blank______. Multiple choice question. firms start to default on loans that were used to finance equipment, which leads to less than full-employment output firms lose the motive to produce above full-employment output workers keep demanding overtime which leads firms to produce more than full-employment output firms continue extremely high rates of utilization and inflation starts to accelerate

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics

Authors: Mark Hirschey

12th edition

9780324584844, 324588860, 324584849, 978-0324588866

More Books

Students also viewed these Economics questions

Question

What does the term diversity mean to you?

Answered: 1 week ago