The long-run industry supply curve in a decreasing-cost, perfectly competitive industry is
A) negatively sloped.
B) perfectly elastic.
C) positively sloped.
D) perfectly inelastic.
A
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In a competitive market, a good is most likely to be provided at inefficient levels if
A. private opportunity costs are positive. B. people can easily be prevented from using a good. C. people cannot be prevented from using a good. D. the good is depleteable.
Macroeconomic topics do not usually include: a. the rate of inflation
b. the rate of unemployment. c. economic growth. d. the profit maximizing decisions of an individual firm.
If a country repeals an investment tax credit that, subsidizes domestic investment,
a. net capital outflow and the real exchange rate rise. b. net capital outflow rises and the real exchange rate falls. c. net capital outflow falls and the real exchange rate rises. d. net capital outflow and the real exchange rate fall.
Demand for a specific brand ______ demand for the corresponding product category.
Fill in the blank(s) with the appropriate word(s).