Assuming fixed factor prices, the short-run industry supply curve for a perfectly competitive industry is equal to the sum of the
A) AVC curves above minimum AVC.
B) ATC curves above minimum ATC.
C) MC curves above minimum AVC.
D) MC curves above minimum ATC.
C
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The purchase by the Canadian government of a fighter jet produced in the United States is included in U.S
A) consumption spending. B) investment spending. C) government purchases. D) net exports.
Suppose the growth rate of Carolina is 5 percent. According to the rule of 70, it will take _____ years for the economy to double in size
a. 20 b. 14 c. 30 d. 40
A monopoly is:
A. a seller of a highly advertised and differentiated product in a market with low barriers to entry in the long run. B. the only seller of a good for which there are no good substitutes in a market with high barriers to entry. C. the only buyer of a unique raw material. D. the producer of a product subsidized by the government.
Attempts to bypass price rationing in the market
A. are easily administered. B. always fail. C. are efficient. D. are costly.