Which of the following is true?
a. The long run supply curve for a competitive increasing cost industry will be upward sloping
b. The long run supply curve for a competitive increasing cost industry will be more elastic than the industry's short run supply curve.
c. The long run supply curve for a competitive increasing cost industry will be horizontal.
d. Both (a) and (b) are true.
d
You might also like to view...
The Second Circuit and Eleventh Circuit Courts of Appeal affirmed dismissal of securities fraud claims because the plaintiffs did not adequately plead scienter under the standard imposed by the Private Securities Litigation Reform Act of 1995. Scienter is defined as which of the following?
(a) The standard of reasonableness required of a prudent person in the management of his affairs (b) An untrue statement of a material fact (c) The intent to deceive, manipulate, or defraud (d) The failure to maintain due diligence during the issuance of new securities known as an IPO
The Fair Labor Standards Act of 1938
A. Eliminated minimum wages created during World War I. B. Granted women the right to work in nonclerical occupations. C. Set a minimum wage of 25 cents per hour. D. Established maximum work hours per day.
In principle, households ultimately control:
A. businesses. B. both businesses and the government. C. neither businesses nor the government. D. the government.
A country experiencing an international financial crisis will likely
A. see an increase in portfolio investment. B. be able to maintain growth and prosperity in its domestic economy, but its export sector will suffer. C. experience a decrease in its economic growth rate. D. see an increase in foreign direct investment.