The economic reasons that underlie the shape of the aggregate supply curve are different from those that underlie the shape of the supply curve for a particular good
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Which of the following is true concerning the national debt?
a. It equals the budget deficit. b. When the budget deficit is declining, the national debt will fall. c. A budget deficit will reduce the national debt. d. A budget surplus will reduce the national debt.
The market demand curve for a private good is the horizontal sum of individual consumer demand curves. In contrast, once a public good is produced, it is available to all consumers in an identical amount. Thus the market demand curve for a public good is the vertical sum of individual consumer demand curves
Indicate whether the statement is true or false
According to the graph shown, if the market goes from equilibrium to having its price set at $10 then:
A. area B gets transferred from consumer to producer. B. area (B + C) gets transferred from consumer to producer. C. area (B + C) gets transferred from producer to consumer. D. area B gets transferred from producer to consumer.
How do firms in monopolistic competition compete?
What will be an ideal response?