The long-run industry supply curve will be upward-sloping if:
A. output prices are fixed no matter what the level of output.
B. there are no economies or diseconomies of scale.
C. input prices are fixed no matter what the level of output.
D. input prices increase with the level of output.
Answer: D
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In the above figure, if this natural monopoly is not regulated the deadweight loss to society is
A) ecf. B) ebc. C) gac. D) gde.
Which of the following is a correct reason for stating that the United States has a fiduciary monetary system? I. Our money is convertible to a fixed amount of silver or gold. II. Our money has a predictable value
A) I only B) II only C) Both I and II D) Neither I nor II
As a student, one of the costs of sleeping in rather than going to class is likely to be a lower grade in the class.
Answer the following statement true (T) or false (F)
If one were to consider a university as a business, the computers in the computer labs would be regarded by economists as
a. technology flows. b. mechanization flows. c. part of the university's stock of capital. d. a flow of services from the university's stock of capital.