In the long run if some firms are losing money in monopolistic competition
A. the industry supply curve cannot increase because of high barriers to entry.
B. the industry supply curve will increase and market price will fall.
C. the industry supply curve cannot decease because of high barriers to entry.
D. the industry supply curve will decrease and market price will rise.
D. the industry supply curve will decrease and market price will rise.
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Taco Bell produces both tacos and burritos because when it does so, Taco Bell experiences
A) economies of scope. B) decreasing scope of costs. C) increasing normal profit. D) economies of scale.
According to the Romer model, tax incentives to support research and development will lead to ________
A) higher tax rates in the future B) an increase in the general level of prices C) a decrease in the general level of prices D) increased per capita income
The most common type of investment in human capital is
A) having more children per family. B) the migration of labor in search of better jobs. C) expanded years of schooling. D) improved health care and maintenance.
The antebellum transportation revolution
a. was driven by a few firms that gained monopoly control of the major transportation routes. b. increased the prices of many consumer goods. c. discouraged urban growth. d. caused political and economic tension between the East and the West. e. None of the above.