Which of the following statements is TRUE? Select all that apply. A:The long run is a...

Which of the following statements is TRUE? Select all that apply.

A:The long run is a period long enough for a firm to adjust the quantities of all the resources that it employs, including plant capacity.

B:The long run is a period is a period too brief for a firm to alter its plant capacity, yet long enough to permit a change in the degree to which the plant’s current capacity is used.

C:Average product is the extra output or added product associated with adding a unit of a variable resource to the production process.

D:Total product is the total quantity, or total output, of a particular good or service produced.

Expert Solution

Statements A and D are true which are-

The long run is a period long enough for a firm to adjust the quantities of all the resources that it employs, including plant capacity.

Total product is the total quantity, or total output, of a particular good or service produced.

Long run is a period, that is long enough for the firms to adjust all its inputs according to change in the conditions. In the long run, firm can change its factory size, switch to new techniques of production, purchase new plant etc.

Total product refers to the total quantity of a good or service by a firm during a given period of time.

Other statements B and and C are not true because-

The long run is not a brief period to alter it's plants capacity. The long run is a long period in which plants capacity can be altered.

Marginal product is the extra output or added product associated with adding a unit of a variable resource to the production process.

Rahul Sunny answered 2 years ago

1. Which of the following statements are true? Select all that apply. Select one or more:...

1. Which of the following statements are true? Select all that apply. Select one or more: a. Earnings per share is calculated by dividing retained earnings by the number of shares of common stock outstanding. b. The creditors of a firm must be satisfied before any earnings can be distributed to the common shareholders. c. When referring to ratio comparisons, time-series analysis compares a firm to that of an industry leader. d. The operating profit margin must take into account...

Which Of The Following Statements Are True? Select All That Apply. A. All other factors being...

Which Of The Following Statements Are True? Select All That Apply. A. All other factors being the same, dispersion forces between linear molecules are greater than dispersion forces between molecules whose shapes are nearly spherical. B. For the halogens, the dispersion forces increase while the boiling points decrease as you go down the column in the periodic table from F2 to I2 . C. For molecules with varying molecular weights, the dispersion forces may not become stronger as the molecules...

Which of the following statements is TRUE? Select all that apply. Marginal utility is the extra...

Which of the following statements is TRUE? Select all that apply. Marginal utility is the extra satisfaction a consumer realizes from an additional unit of that product. Total utility is the additional satisfaction or pleasure a person receives from consuming some specific quantity of a product. Marginal utility is the change in total utility that results from consuming 1 more unit of a product. To maximize satisfaction the consumer should allocate his or her money income so that the last...

Which of the following statements are true about the accounting transactions? Select all that apply Transactions...

Which of the following statements are true about the accounting transactions? Select all that apply Transactions occur when a source document (e.g., a billing) arrives, a time-based obligation (e.g., payroll payment deadline) occurs, or when closing accounts to prepare financial reports. A transaction will always debit one account and credit another account. When journalizing a transaction, the following equation must be maintained: Assets + Net Worth = Revenues + Liabilities + Expenses. None of the above.

Which of the following statements are/is true? Select all that apply. A. Stateful inspection firewalls can...

Which of the following statements are/is true? Select all that apply. A. Stateful inspection firewalls can detect SYN attacks. B. Both application-level and circuit-level gateways do not allow a direct end-to-end connection between the connecting parties. C. Stateful inspection firewalls, circuit-level gateways and application-level gateways provide reactive network defense, whereas packet filtering firewalls provide proactive network defense.

Which of the following are true statements about ketones? Select all that apply: Acetone can be...

Which of the following are true statements about ketones? Select all that apply: Acetone can be used as a solvent for lacquer (including fingernail polish). They each contain a functional group in the middle of a carbon chain with the structure −CO. They are named using the suffix -al. They are named using the suffix -one.

Which of the following statements is incorrect? Select all that apply.

Which of the following statements is incorrect? Select all that apply. The eukaryotic ribosome uses both the 5' cap and the 3' tail to correctly position the ribosome on the initation codon GTP is hydrolyzed by aminoacyl-tRNA synthetases to prepare amino acids for attachment to tRNAs The peptidyl-transferase activity of the ribosome is catalyzed by one of the protein domains of the large ribosomal subunit The Shine-Dalgarno consensus sequence is located downstream of the initiation codon and base pairs with the 16S rRNA of...

Which of the following statements about enzyme mechanism reaction steps are true (select all that apply)?...

Which of the following statements about enzyme mechanism reaction steps are true (select all that apply)? On a reaction coordinate diagram, a reversible step is indicated by reactant and product at similar energy Irreversible steps are important in enzyme mechanisms to help ensure enzymes catalyze reactions in the desired direction Substrate binding is usually an irreversible step Irreversible steps of a reaction mechanism are always very slow To determine if a step is reversible or irreversible, it is necessary to...

Which of the following are true statements? Select all that apply. 1. Electrically neutral atoms have...

Which of the following are true statements? Select all that apply. 1. Electrically neutral atoms have an equal number of electrons and protons. 2. Valence electrons reside in the atom’s outer shell and move freely through metalic materials. 3. Free electrons move more easily through insulating rather than conducting materials. 4. Only atoms can have a charge imbalance, not objects. 5. When a glass rod is rubbed with fur, the rod becomes negatively charged and the fur positively charged. 6....

Which of the following are TRUE? Select all that apply. A probability of 1 is the...

Which of the following are TRUE? Select all that apply. A probability of 1 is the same as a probability of 100% The difference between interval and ordinal data is that interval data has a natural zero. If you are doing a study and the population is Americans, the easiest type of study to run would be a simple random sample. If your population is 80% female and your sample is 60% male, there is undercoverage bias. In order to...

Question