Suppose there are two perfectly competitive industries with similar numbers of firms but where one industry consists of N identical firms while the second consists of N firms with differing costs. Compared to the short-run supply curve of the industry with identical firms, the short-run supply curve of the differing cost industry will tend to be
A) steeper at higher prices.
B) flatter at higher prices.
C) steeper at lower prices.
D) flatter at lower prices.
C
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The figure above shows the market for annual influenza immunizations the United States. If the government intervenes in the market and provides a $10 subsidy to providers of immunizations, the number of people immunized is ________
A) 20 million per year. B) exactly 10 million per year. C) between 15 and 20 million per year. D) less than 10 million per year. E) more than 10 million and less than 15 million.
Which of the following is true of an increase in quantity supplied of a given good?
a. It is represented by a rightward shift in the supply curve. b. It could result from a technological improvement. c. The price of a key resource used to produce the good may have decreased. d. It is caused by an increase in the price of the good. e. The price of an alternative good has increased.
A decrease in the interest rate, other things constant, will: a. shift the supply of loanable funds curve to the left. b. shift the supply of loanable funds curve to the right. c. decrease the quantity of loanable funds demanded. d. decrease the quantity of loanable funds supplied
e. shift the demand for loanable funds curve to the right.
An individual voter will likely be concerned with
What will be an ideal response?