Long-run market supply curves are downward sloping if
A) firms are identical.
B) the number of firms is restricted in the long run.
C) input prices fall as the industry expands.
D) All of the above.
C
You might also like to view...
Compared to the level of real GDP per person in 1870, by 2010, real GDP in the U.S was ________ times larger, while real GDP per person in Japan was ________.
A. 12; 30 times larger B. 12; smaller C. 30; 12 times larger D. 12; 12 times larger
Scarcity refers to a situation in which unlimited wants exceed the limited resources available to fulfill those wants
Indicate whether the statement is true or false
Productivity is generally measured as:
A. output per worker. B. nominal output over time. C. real output over time. D. output per year.
After John discovered he had a serious illness, he immediately purchased health insurance without disclosing his illness to the insurance company. This is an example of adverse selection
a. True b. False Indicate whether the statement is true or false