Which are the following are short-run and which are the long-run adjustment? Explain with the help of examples. a) Wendy's built a new restaurant. b) Harley Davidson corporation hires 200 more production workers. c) A farmer increase the amount of fertilizer used on his corn crop. d) An Alcoa aluminum plants add a third shift of workers.
Which are the following are short-run and which are the long-run adjustment? Explain with the help of examples. a) Wendy's built a new restaurant. b) Harley Davidson corporation hires 200 more production workers. c) A farmer increase the amount of fertilizer used on his corn crop. d) An Alcoa aluminum plants add a third shift of workers.
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Costs And The Supply Of Goods
Section: Chapter Questions
Problem 9CQ
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Which are the following are short-run and which are the long-run adjustment? Explain with the help of examples.
a) Wendy's built a new restaurant.
b) Harley Davidson corporation hires 200 more production workers.
c) A farmer increase the amount of fertilizer used on his corn crop.
d) An Alcoa aluminum plants add a third shift of workers.
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