In a constant-cost industry, a decrease in price causes:
A. some firms to exit the industry.
B. quantity supplied to remain constant.
C. some firms to enter the industry.
D. price controls.
Answer: A
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During the fall 2010, the US national saving rate has steadily climbed to near 10%, thus the MPC for the nation should be____. According to the simple keynesian model the value of the expenditure multiplier should be _______, assuming we ignore the impacts from automatic stabilizers
Fill in the blank(s) with the appropriate word(s)
The dominant strategy for player 2 in the following game is:Player 1Player 2??t1t2t3?S14,103,01,3?S20,02,1010,3
A. t3. B. t1. C. t1 and t2. D. None of the answers is correct.
In Figure 24.2, total revenue at the profit-maximizing rate of output is
A. $22.00. B. $4.00. C. $6.40. D. $16.00.
The ________ is a commonly used measure of the degree of inequality in an income distribution.
A. Herfindahl-Hirschman index B. Lorenz curve C. Gini coefficient D. utility possibility frontier