The short-run supply curve is ________ and the long-run supply curve is ________ in a perfectly competitive market in which all firms have identical cost structures.
A. upward sloping; perfectly elastic
B. downward sloping; upward sloping
C. perfectly elastic; upward sloping
D. upward sloping; upward sloping
Answer: A
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Once international trade occurs, a country with a comparative advantage in the production of a good will ________ production of the good and ________
A) decrease; import the good B) increase; export the good C) not change; import the good D) increase; import the good E) decrease; export the good
The consensus reached in the late 1990s was that from the 1980s onward the Fed had been
A) quicker to stimulate or restrain the economy when its output fell short of or exceeded its natural level. B) quicker to stimulate the economy when output fell short of the natural level, but slower to do so when output exceeded the natural level. C) slower to stimulate the economy when output fell short of the natural level, but quicker to do so when output exceeded its natural level. D) slower to stimulate or restrain the economy when its output fell short of or exceeded its natural level.
Which of the following is the best example of an investment in human capital?
a. on-the-job training received by an apprentice electrician b. an increase in the number of hours worked per week by a worker in an unskilled laboring job c. the purchase of company stock by a worker d. payments into a retirement pension plan by a skilled laborer
Predatory Lending Practices
What will be an ideal response?