Suppose the long-run supply curve for a good is upward-sloping. The upward slope could be explained by

a. increases in production costs resulting from more firms coming into the market.
b. a breakdown of the "free entry and exit" feature of competition.
c. a breakdown of the "price taking" feature of competition.
d. a stable demand curve for the good, that is, a demand curve that never shifts.


a

Economics

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If good growing conditions increase the supply of strawberries and hot weather increases the demand for strawberries, the quantity of strawberries bought ________

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The largest percent of colonial trade (both exports and imports) was with

(a) the United Kingdom. (b) Southern Europe. (c) Africa. (d) the West Indies.

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The typical American family spends about ____ percent of its budget on goods, and the remainder on services

a. 22 b. 34 c. 68 d. 74

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Assume that the central bank increases the reserve requirement. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and reserve-related (central bank) transactions in the context of the Three-Sector-Model?

a. The real risk-free interest rate falls, and reserve-related (central bank) transactions become more negative (or less positive). b. The real risk-free interest rate rises, and reserve-related (central bank) transactions become more negative (or less positive). c. The real risk-free interest rate and reserve-related (central bank) transactions remain the same. d. The real risk-free interest rate rises, and reserve-related (central bank) transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.

Economics