For an increasing cost industry, the long-run supply curve has a(n) elasticity of supply
a. infinite.
b. negative.
c. positive.
d. zero.
c
You might also like to view...
An economy produces only 500,000 tables valued at $100 each. Of these, 100,000 are sold to consumers, 200,000 are sold to businesses, 100,000 are sold to the government, and 50,000 are sold abroad. No tables are imported. At the end of the year, the table manufacturers hold the unsold tables in inventory. What is the value of the investment component of GDP?
A. $25 million B. $2 billion C. $10 million D. $20 million
In which of the following contracts is the agent's payment unaffected by his performance?
A) fixed-fee contract B) hire contract C) contingent contract D) sharing contract
"Rational, self-interested people would never end up worse off by any decision they make. Obviously, people often make mistakes or have regrets. Therefore, people do not act rationally or out of self-interest"
Do you agree with these statements? Why or why not?
The Federal Reserve System was founded in:
a. 1913. b. 1929. c. 1933. d. 1935.