If Figure 8.1 depicts the current situation for a monopolistically competitive firm, then in the long run we expect:
A. the firm's demand curve to shift to the left.
B. the firm's demand curve to shift to the right.
C. the price of the good to increase.
D. the quantity of the good sold by the firm to increase.
Answer: A
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Jed had an exam score of 50 percentage points. There is an extra credit assignment that Jed can complete that will raise his exam score by 20 percentage points. Jed has determined that the extra credit assignment will take 10 hours of his time
Jed will complete the assignment he values the A) 20 percentage points more than the 10 hours of his time. B) 10 hours of his time more than the 20 percentage points. C) 70 percentage points more than the 10 hours of his time. D) wants a higher score.
Assume that the quantity of apples is measured on the horizontal axis and the quantity of oranges is measured on the vertical axis. If the budget line rotates upward while keeping the same horizontal intercept, it implies that
A. the price of oranges has increased. B. the price of apples has decreased. C. the price of oranges has decreased. D. the available income has increased.
Shares of stock are:
A. legal promises to make regular payments to the stockholder. B. claims to partial ownership of a firm. C. legal promises to repay a debt. D. regular payments made to owners of a firm.
If profit from producing would be negative, producers will shut down. ?
Answer the following statement true (T) or false (F)