Supply curves for secondary supply resources (e.g., scrap metal) become:
A) Steeper in the short run
B) More elastic in the long run
C) Steeper in the long run
D) More inelastic in the short run
C
You might also like to view...
Gunnar can work as a campus security officer at a guaranteed salary of $20,000 per year or as a real estate agent
If Gunnar works as a real estate agent, there is a 50 percent chance that he will earn $10,000 per year and a 50 percent chance that he will earn $30,000 per year. Based on the table above, Gunnar's expected utility if he works as a real estate agent is A) 170. B) 85. C) 20. D) 90.
Every individual has a labor supply curve in each market where there is a possible use for his/her labor
a. True b. False
In most industries, deregulation has led to lower prices.
Answer the following statement true (T) or false (F)
When the Fed sells government bonds in the open market, interest rates will rise.
a. true b. false