The short run is defined as a. the period of time it takes the firm to make its first economic profit. b. the period of time in which all factors of production are variable. c. the period of time in which at least one factor of production is fixed. d. a period of time of five years or less.

Which of the following best explains why large companies have an advantage over smaller companies? a. economies of scale make it possible to offer lower prices. b. the production possibilities frontier is wider for a larger company. c. decreasing marginal utility enables more efficient production. d. increasing the scale of production leads to a reduction in inputs.2b2t

Dakota products has a production budget as follows: may, 16,000 units; june, 19,000 units; and july, 24,000 units. each unit requires 3 pounds of raw material and 2 direct labor hours. dakota desires to keep an inventory of 10% of the next month’s requirements on hand. on may, 1 there were 4,800 pounds of raw material in inventory. direct labor hours required in may would be:

Summarize the specific methods used by interest groups in order to influence governmental decisions making in all three branches of government. provide at least two examples from each branch.