An improvement in the technology used to produce cell phones would be shown by a:
A. rightward shift of the supply curve for cell phones.
B. leftward shift of the supply curve for cell phones.
C. rightward shift of the demand curve for cell phones.
D. leftward shift of the demand curve for cell phones.
A. rightward shift of the supply curve for cell phones.
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The principles of comparative advantage and specialization only apply to trade between different nations
Indicate whether the statement is true or false
In the above figure, curve A is the ________ curve and curve C is the ________ curve
A) total variable cost; total fixed cost B) total cost; total fixed cost C) total fixed cost; total variable cost D) total cost; total variable cost E) total variable cost; total cost
Even ideal cartels tend to be unstable because
a. firms typically prefer competition to collusion as competition, because it leads to more profits. b. collusion leads to lowest possible overall profits in the industry. c. oligopolistic managers are extremely risk loving. d. firms can benefit by secretly selling more than they promised the other firms e. all of the above
A Herfindahl index value of 20, for a particular industry, indicates that the industry is most likely to be:
a. perfectly competitive. b. highly concentrated. c. oligopolistic. d. monopolistic. e. made up of illegal firms.