Figure 19-2
In Figure 19-2, the derived demand curve is the line
A. ABCD.
B. CDEF.
C. DEF.
D. ABCDEF.
Answer: B
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When the market demand increases in a perfect competition, the long-run result is a larger number of firms, a higher price, and a permanent economic profit for the firms
Indicate whether the statement is true or false
Why are externalities called market failures? Are pecuniary externalities also an example of market failure?
What will be an ideal response?
Use the above table. The MFC of the 4th worker is
A) $5. B) $6.25. C) $25. D) $40.
Private investment during a year includes
a. the value of inventories plus the values of stocks and bonds b. spending on plant and equipment, new housing construction, and changes in inventories c. stocks and bonds purchased by firms d. spending on plant and equipment plus government spending plus household spending on stocks and bonds e. spending on plant and equipment