Technological advances will cause the supply curve to:
A. shift to the left.
B. become steeper.
C. become flatter.
D. shift to the right.
Answer: D
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Nonfinancial businesses may acquire funds by borrowing from a commercial bank or by ________
A) purchasing short-term assets B) issuing securities C) issuing insurance policies D) trading on an exchange
If new entry occurs in a perfectly competitive industry, the demand curve for each existing firm will: a. shift up
b. shift down. c. shift right. d. shift left.
Production possibilities in an economy decrease as more resources and better technology are utilized.
Answer the following statement true (T) or false (F)
In a monopolistically competitive market, if price is greater than average cost:
A. firms will enter. B. firms will exit. C. there will be no change in the number of firms. D. the market is in long-run equilibrium.