Use the supply and demand model to explain why the salaries of nurses in increasing?
a. Demand has increased while supply also increased.
b. Demand has increased while supply decreased.
c. Demand has decreased while supply decreased.
d. Demand has decreased while supply increased.
b. Demand has increased while supply decreased.
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A firm operating in a perfectly competitive industry will shut down in the short run but earn losses if the market price is less than that firm's average variable cost
a. True b. False Indicate whether the statement is true or false
The ______________ the gap between the tuition a college student pays and the equilibrium tuition for that college, the _____________ likely the student's instructors will be on time and attentive during their office hours
A) larger; less B) smaller; more C) larger; more D) smaller; less E) a and b
Individuals who specialize in activities that lower transaction costs are
A. producers. B. middlemen. C. consumers. D. bureaucrats.
Refer to the diagram. The firm will shut down at any price less than:
A. P 1 .
B. P 2 .
C. P 3 .
D. P 4 .