A market might have an upward-sloping long-run supply curve if
a. firms have different costs.
b. consumers exercise market power over producers.
c. all factors of production are essentially available in unlimited supply.
d. the entry of new firms into the market has no effect on the cost structure of firms in the market.
a
You might also like to view...
The figure illustrates the market for pens. The equilibrium quantity is
A) between 400 and 600 pens, but it is impossible to be precise. B) 5 pens a month. C) 2 pens a month. D) 500 pens a month.
Which of the following four firms would most likely be part of a perfectly competitive market?
A) Village Pizza sells NY style pizza and hard-to-find microbrews in a college town. B) The WaveHouse is the only place in San Diego where you can ride an indoor 10 foot wave. C) Mark sells the tomatoes he grew in his backyard at the local farmers market. D) Amara Massage specializes in pre- and post-natal massage.
An example of a capital resource is: a. stock in a computer software company
b. a bond issued by a company selling electric generators. c. a dump truck. d. an employee of a moving company.
Under the gold standard, a balance of payments surplus leads to an outflow of gold
a. True b. False Indicate whether the statement is true or false