In perfect competition, as the long run approaches, economic losses will cause
a. the exit of existing firms, shifting the market supply curve to the left
b. government regulation
c. technological innovation
d. inflation
e. a favorable shift in tastes and preferences
A
You might also like to view...
As real rates of interest increase in the economy, real investment spending increases
Indicate whether the statement is true or false
If the cross elasticity of demand between goods A and B is positive
A) the demands for A and B are both price elastic. B) the demands for A and B are both price inelastic. C) A and B are complements. D) A and B are substitutes.
Expenditures on major need-tested programs from the federal government for medical care amounted to _____ in 2009.
A. $98.1 B. $28.8 C. $46.9 D. $200.0 E. none of these answer options are correct.
The rules established under the General Agreement on Tariffs and Trade (GATT) are enforced by an international body called the World Trade Organization (WTO)
a. True b. False Indicate whether the statement is true or false