During the short-run period of the production process, a firm is:
a. unable to vary any of its factors of production.
b. able to vary only some of its factors of production.
c. able to vary all of its factors of production.
d. able to vary the size of its plant.
QUESTION 2Statistical discrimination is legal under the disparate impact standard but illegal under the treatment standard.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 3If demand is relatively elastic and supply is relatively inelastic, then the incidence of a tax will fall mainly on consumers.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 4A baseball player who is currently batting .350 will increase his batting average on a day that he goes _____ at the plate.
a. 1 for 4.
b. 1 for 3.
c. 2 for 5.
d. 2 for 6.
QUESTION 5It has been proved empirically that marriage and children lowers a woman's ability to earn as much as a man.
a. True
b. False
Indicate whether the statement is true or false
QUESTION 6If price elasticity of supply is large and demand is price-inelastic, then the firm can earn positive profits by increasing the price.
a. True
b. False
Indicate whether the statement is true or false
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