In a decreasing-cost industry, an increase in industry output will
A) lead to a higher market price.
B) lead to a lower market price.
C) shift each firm's average fixed cost curve up.
D) shift each firm's short run supply curve up.
Answer: B
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When a regression coefficient is significant at the .05 level, it means that
A) there is only a five percent chance that there will be an error in a forecast. B) there is 95 percent chance that the regression coefficient is the true population coefficient. C) there is a five percent chance or less that the estimated coefficient is zero. D) there is a five percent chance or less that the regression coefficient is not the true population coefficient.
What is least accurate about marketing and selling in the US after the Civil War?
a. Advertising on a national scale became a widely accepted practice. b. There was a large increase in firms with brand names. c. There was a decrease in product differentiation—goods became more alike. d. The quality of non-durable goods improved significantly.
If the cross-price elasticity of demand is -3, then the goods are __________ and the consumers' responsiveness would be characterized as __________
a. substitutes; inelastic b. substitutes; elastic c. substitutes; unit elastic d. complements; inelastic e. complements; elastic
Which tax form would you select for a Subchapter S corporation?
a. Form 1120 b. Form 1120S c. Form 1040 d. Form 1040S