Which of the following would shift a supply curve to the right?
a. an increase in the number of sellers
b. expectations of higher future prices
c. an increase in input prices
d. outdated technology
a. an increase in the number of sellers
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Suppose that in the short run firms are making economic profit in a monopolistically competitive industry. Explain what will eventually happen in the long run
In your answer make sure to discuss demand, price and the relationship between price and average total cost.
Examples of incentive pay include
a. allowing employees a certain number of personal days b. providing onsite parking for employees c. bonuses for meeting deadlines d. offering a certain number of sick days
In the long-run, an increase in aggregate demand increases the price level, but not real GDP
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom's budget constraint is AC. He will have leftover income if he purchases the bundle represented by point
A. A. B. B. C. E. D. D.