As a result of the war in Afghanistan, the population of Afghanistan as well as their capital stock was reduced. This can be illustrated by aggregate supply curve

a. shifting outward.
b. becoming flatter.
c. shifting inward.
d. becoming more elastic.


c

Economics

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Firms in long-run perfect competition produce at

A) increasing returns to scale. B) decreasing returns to scale. C) constant returns to scale. D) no returns to scale.

Economics

When a monopoly decreases its output and sales, the output effect works to _____ total revenue, and the price effect works to _____ total revenue

Fill in the blank(s) with the appropriate word(s).

Economics

Which of the following statements about a tariff and a quota is true?

A) With a tariff the government collects revenues, but not with a quota. B) With a quota the quantity of imports falls, but not with a tariff. C) With a tariff the domestic price of the good increases, but not with a quota. D) With a quota the domestic production of the good increases, but not with a tariff. E) all of the above

Economics

An increase in both supply and demand must increase both equilibrium price and quantity.

a. true b. false

Economics