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:

Canadian University

Higher education institutions located in Canada that offer undergraduate and graduate degrees in a variety of fields.

John Watson

A psychologist from America who founded the behaviorism school of psychology, which focuses on examining behaviors that are observable.

Governs Behaviour

Refers to principles or forces that influence or control actions and conduct.

Environment

The environment or situation where a human, animal, or plant exists or functions.