For a perfectly competitive industry, an improvement in technology will cause
A. the industry short-run supply curve to shift to the right.
B. a movement down the short-run industry supply curve.
C. a movement up the short-run industry supply curve.
D. the industry short-run supply curve to shift to the left.
Answer: A
You might also like to view...
If you know the number of euros that can be exchanged for one dollar, you can easily figure out the number of dollars needed to obtain one euro by finding the reciprocal of the exchange rate for dollars per euro
a. True b. False
Contingent workers are those who have no regular employment arrangement (such as a 40-hour week), but rather work as and where there is work to be done.
Answer the following statement true (T) or false (F)
A manager in charge of new product development can hire engineers and market researchers. The annual salary of an engineer is $30,000 and that of a market researcher is $20,000. The marginal contribution of engineers and market researchers are
Given the above information, if the manager currently has two engineers and one market researcher, what must be true?
A. Fewer new products will be developed if he hires fewer engineers and more market researchers. B. He is not making the correct decision because MPE / PE > MPR/ PR. C. More new products will be developed if he hires fewer engineers and more market researchers. D. He is making the correct decision because MPE = MPR.
(Advanced analysis) Answer the question on the basis of the following information. The demand for commodity X is represented by the equation P = 100 - 2Q and supply by the equation P = 10 + 4Q. Refer to the given information. If demand changed from P =
100 - 2Q to P = 130 - Q, the new equilibrium price is: A. $90. B. $110. C. $96. D. $106.