Suppose a developing country receives more machinery and capital equipment as foreign entrepreneurs increase the amount of investment in the economy. As a result
A) the economy will move up along the long-run aggregate supply curve.
B) the long-run aggregate supply curve will shift to the left.
C) the long-run aggregate supply curve will shift to the right.
D) the economy will move down along the long-run aggregate supply curve.
C
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If new firms enter a perfectly competitive industry, the market supply
A) does not change. B) becomes more price elastic. C) becomes more price inelastic. D) increases. E) decreases because each firm produces less than before the entry.
Generally, economists agree that the economic outlook for the U.S. is seriously challenged
a. True b. False Indicate whether the statement is true or false
Decreasing-cost conditions commonly happen in ______.
a. short intervals of input expansion b. long intervals of input expansion c. short intervals of output expansion d. long intervals of output expansion
When four Infineon Technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as:
A. a cartel. B. if they faced kinked demand curve. C. an industry with monopolistic competition. D. if they were in a contestable market.