If the long-run supply curve slopes upward, we know that this is

A) a decreasing-cost industry.
B) a constant-cost industry.
C) an increasing-cost industry.
D) a situation in which no input prices change as firms enter and exit the industry.


C

Economics

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If total Fed liabilities __________, then reserves have to __________, everything else being equal

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In a closed economy that does not have international trade, the spending multiplier equals _____

a. 1/MPS b. 1/MPC c. 1/(MPC-1) d. 1/(1-MPS) e. 1/(1+MPS)

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A short-run production function was estimated asQ = ?0.002L3 + 0.16L2At what level of labor usage does the maximum average product occur?

A. 20 B. 30 C. 40 D. 50 E. 60

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Baxter International, a manufacturer of hospital supplies, acquired American Hospital Supply, a distributor of hospital supplies. This is an example of

A) a conglomerate merger. B) a horizontal merger. C) a vertical merger. D) a two-dimensional merger.

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