If input costs remain the same as industry output expands, what would you expect to be the long-run impact of an increase in demand on an industry currently in long-run equilibrium?
a. There will be more firms but the price will remain the same.
b. There will be fewer firms but the price will remain the same.
c. There will be more firms and the price will increase
d. There will be fewer firms and the price will decrease.
a
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Quantitative analysis of relevant data show that economic problems for farmers in the last half of the 19th century included:
a. falling prices of farm products relative to other prices. b. rising real interest rates. c. rising prices for consumer goods. d. rising prices for farm equipment. e. All of the above
Which model tends to focus on the internal assets of a company?
A) five-forces model B) resource-based model C) supply and demand model D) profit-maximization model
Which of the following would not cause a change in the supply of milk?
a. an increase in government subsidies to dairy farmers b. an increase in the price of milk c. the discovery of growth hormones to stimulate the milk production of cows d. an increase in the cost of feed for cows
A belief that high-tech companies would be highly profitable led to the boom in Internet companies in the 1990s, which is known as a(n):
a. investment shock. b. investment boom. c. technology surge. d. technology reversal.