Individual supply curves are summed vertically to obtain the market supply curve
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
If a perfectly competitive industry's long-run supply curve is downward sloping, we can conclude that input prices will:
a. increase as industry output increases. b. decrease as industry output increases. c. remain constant as industry output increases. d. none of these conclusions can be drawn.
If the price elasticity of supply is 0.8, and price increased by 5%, quantity supplied would
a. increase by 4%. b. increase by 6.25%. c. decrease by 4%. d. decrease by 6.25%.
The interest rate charged for loans through the discount window is called the:
A. reserve rate. B. discount rate. C. prime rate. D. interest rate.
What will occur in the short run if there is cost-push inflation and the government adopts a hands-off approach to it?
A. An increase in real output B. An inflationary spiral C. Low unemployment and a loss of real output D. High unemployment and a loss of real output