Downward sloping long-run supply curves occur in markets
A) with learning-by-doing.
B) with increasing returns to scale.
C) with constant returns to scale.
D) Either A or B
D
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Assume that Figure 4-16 shows the supply of steak. An increase in the price of cattle feed will change the supply from
A. S1to S2. B. S2to S1. C. S2to S3. D. S1to S3.
When cyclical unemployment is zero
A) frictional unemployment is zero. B) cyclical and frictional unemployment are zero. C) structural unemployment is zero. D) the unemployment rate equals the natural unemployment rate.
Which of the following is NOT a fiscal policy?
A. Lowering personal tax rates to influence labor supply B. Increasing the money supply to expand aggregate demand C. Offering subsidies to export firms D. Increasing tariffs to reduce imports
Why is it important that a firm can prevent resale of its product if it wishes to engage in price discrimination?
What will be an ideal response?