Statement I: in the Short Run a Firm Has Two

question 41

Multiple Choice

Statement I: In the short run a firm has two options: stay in business or go out of business.
Statement II: In the short run there are no fixed costs.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

High Tariffs

Taxes on imported goods designed to protect domestic industries from foreign competition by making imported goods more expensive.

Re-election

The act of being elected again to a position or office that one has previously held.

AWSA

The American Woman Suffrage Association, a 19th-century organization focused on securing women's right to vote through amendments to individual state constitutions.

Elizabeth Cady Stanton

A leading figure of the early women's rights movement, known for her advocacy for women's suffrage and rights.