If a perfectly competitive firm adopts a new technology, greater economic profit is possible in the ________, but a competitive return will be earned in the ________ as the market supply will ________.
A) long run; short run; decrease
B) short run; long run; increase
C) short run; long run; decrease
D) long run; short run; increase
B) short run; long run; increase
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Holding everything else constant, the U.S. real exchange with India will increase if the rupee depreciates
Indicate whether the statement is true or false
As a result of the rightward shift in the demand curve for labor from LD0 to LD1, the equilibrium level of employment ________ and potential GDP ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Refer to Scenario 10.9. At the profit maximizing level of output, what is the deadweight loss?
A) 0 B) 450 C) 900 D) 1,800 E) none of the above
The prisoner's dilemma game can involve:
A. only two players. B. more than two players. C. multiple organizations. D. All of these statements are true.