The long-run supply curve in a constant-cost industry is linear and
A) upward-sloping.
B) downward-sloping.
C) horizontal.
D) vertical.
E) could have any constant slope.
C
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If the marginal tax rate is greater than the average tax rate, the tax structure is described as regressive
Indicate whether the statement is true or false
The rational expectations school advocates: a. Monetarism
b. Keynesianism. c. the use of fiscal policy. d. the use of monetary policy. e. a passive approach to policy.
The demand for cake decorators has no relationship to the demand for cakes
a. True b. False Indicate whether the statement is true or false
There are several criticisms of the minimum wage. Which of the following is not one of those criticisms? The minimum wage
a. often hurts those people who it is intended to help. b. results in an excess supply of low-skilled labor. c. prevents some unskilled workers from getting needed on-the-job training. d. fails to raise the wage of any employed person.