To determine short-run equilibrium in the economy, we use an aggregate supply curve that is:
a. downward-sloping.
b. vertical.
c. upward-sloping.
d. horizontal.
e. parabolic.
c
Economics
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A good which is nonrival and nonexcludable is
A) a public good. B) a private good. C) a social good. D) an externality.
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What is one benefit provided by Social Security?
What will be an ideal response?
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The pay differential between Walmart and unionized grocery stores is around
A. $5 per hour. B. $1 per hour. C. $ 15 per hour. D. $8 per hour.
Economics
Refer to the diagram showing the average total cost curve for a purely competitive firm. At the long-run equilibrium level of output, this firm's economic profit:
A. is zero.
B. is $400.
C. is $200.
D. cannot be determined from the information provided.
Economics