A long-run supply curve is more sensitive to price changes than is a short-run supply curve
Indicate whether the statement is true or false
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Which of the following is an example of using money as a store of value?
A) paying for a new dress with a credit card B) paying cash for a new automobile C) paying rent with a check on a demand deposit D) keeping $200 on hand for an emergency
Last year in the United States, the price of snowboards rose by 5 percent and the price rise resulted in a 15 percent increase in the quantity supplied. This outcome is an indication that
A) the supply curve of snowboards shifted rightward. B) the supply of snowboards is price elastic. C) some firms entered into the snowboard industry. D) All of the above answers are correct.
The strength of the competition faced by a company can profoundly affect its
a. pricing. b. output decisions. c. input decisions. d. All of the above are correct.
The efficient markets hypothesis says that beating the market consistently is
a. impossible. Many studies find that beating the market is, at best, extremely difficult. b. impossible. Many studies find that beating the market is relatively easy. c. relatively easy. Many studies find that beating the market is, at best, extremely difficult. d. relatively easy. Many studies find that beating the market is relatively easy.