With free entry:
A. the long run market supply curve is horizontal at the market price.
B. the long run market supply curve is vertical at the market price.
C. the short and long run market supply curves are the same.
D. there is a known and limited number of potential suppliers that can produce a good in the long run.
A. the long run market supply curve is horizontal at the market price.
You might also like to view...
When future labor income falls in a small open economy, it causes the current account to ________ and investment to ________
A) fall; rise B) rise; remain unchanged C) fall; remain unchanged D) rise; rise
Scarcity exists because
A. of unlimited resources. B. human wants are enormous relative to the means available to satisfy them. C. production is limited only by technology and human energy. D. advertising creates unnatural desires for surplus goods.
With base year 1990, the index of industrial production for the year 1999 is 112. What will be the value of the index in 1999, if the base year is changed to 1982 and the index measured 96 in 1982?
A. 112.24 B. 116.66 C. 85.71 D. 92.09
Basis may decrease if
A. a large capacity train terminal is built by CGB. B. a drought resulted in a short local crop. C. a large local ethanol plants closes. D. All of the above.