In the short run in a perfectly competitive industry,
a. each firm's supply curve is horizontal, but the market supply curve is upward sloping
b. the marginal cost curve equals the marginal revenue curve
c. the market supply curve is upward sloping because each firm's supply curve is upward sloping
d. the market demand curve is the sum of each consumer's marginal revenue curve
e. each firm earns only a normal profit
C
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Historically those few developing countries which have succeeded in significantly raising their per-capita income levels
A) did not accomplish this with import-substituting industrialization. B) did accomplish this with import-substituting industrialization. C) tended to provide heavy protection to domestic industrial sectors. D) favored industrial to agricultural or service sectors. E) did so to the detriment of their nearest neighbors.
Jack's Lock and Key is considering remodeling. It estimates that the remodeling will cost $6,000 and that as a result revenues will rise by $3,000 the first year, $2,500 the second year, $1,500 the third year and have no effect after then. If the interest rate is 5%, should Jack's remodel? Defend your answer by showing your work
What does TARP stand for?
A. Troubled Asset Relief Program. B. Tarnished Asset Revenue Program. C. Tinged Asset Reimbursement Program. D. Toxic Asset Rescue Program.
Compare the long-run supply curve for a constant-cost industry, a decreasing-cost industry, and an increasing-cost industry. Give an example with an explanation for each
What will be an ideal response?