Answer Happy

A. Answer the following:
26. All decisions made by a company have a primary objective,
which is ____________________.
a. Maximize your total income
b. Get the maximum profit or gain achievable
c. Maximize the amount you sell
d. Maximize your market share
27. In the long run, the average cost curve
________________________.
a. It is below the average total cost curves
b. It is formed from the lower parts of the average total cost
curves
c. It is the same as short-run average total cost curves.
d. it is horizontal
28. In economics, the short run is the period during which
________________ and the long run is the period during which
__________________.
a. Some resources are variable, all resources are fixed
b. All resources are fixed, all resources are variable
c. All resources are variable, but technology is fixed, technology
is variable
d. Some resources are fixed all resources are variable
29. An institution that contracts productive resources and then
organizes them to produce and sell goods and services is
______________________.
a. a retail company
b. a wholesale company
c. a profitable company
d. a company
30. Carmen's keyboard company buys a new computer that Carmen
uses for word processing. Carmen pays ______________ for its
use.
a. An amount equal to the present value
b. An implicit rent
c. An amount equal to your purchase price
d. An explicit rental