An industry is in ________ if firms have an incentive to enter or exit in the ________ run.
A. equilibrium; short
B. equilibrium; long
C. disequilibrium; long
D. disequilibrium; short
Answer: C
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A nation can gain from international trade when the relative domestic prices of the nation differs from that in other countries, and it imports goods for which it is a high opportunity cost producer
a. True b. False Indicate whether the statement is true or false
In the economy of Talikastan in 2015, consumption was $6000, exports were $1000, GDP was $10,000, government purchases were $1800, and imports were $1200 . What was Talikastan's investment in 2015?
a. $0 b. $1200 c. $2400 d. $5600
today, the cash price for corn (delivery october) in nevada, ia is $3.30/bu and the cash price for corn is $3.24/bu in grinnell, ia. if a producer calculated that $0.08/bu was the amount that it would cost to cover all transportation and handling costs for shipping corn from grinnell to nevada, a farmer located near granola would:
a) sell corn in grinnell b) pay transport costs and sell corn in nevada
M2
What will be an ideal response?