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Practice work Question: If firms enter a purely competitive industry, then in the long run this change will shift the industry:
A. Demand curve to the left, and the individual firm's demand curve will shift down
B. Demand curve to the right, and the individual firm's demand curve will shift up
C. Supply curve to the right, and the individual firm's demand curve will shift down
D. Supply curve to the left, and the individual firm's demand curve will shift up
Let the random variable Z follow a standard normal distribution.
Can a monopolistically competitive firm producing a good with lots of very close substitutes earn large positive profits in the long run? Please explain.
The legislature has stated that the $.03 tax will increase goverment revenue by $300,000 per month and raise the price of gasoline by $.03 per gallon. is this correct.
What assumption along with diminishing marginal product implies diminishing marginal rate of technical substitution?
Which of the following would shift the production possibilities frontier outward? -more efficient use of existing resources and technology?. -society's desire to produce more one of the goods. -an increase in the size of labor force. -the end of stri..
Explain and illustrate graphically the effect of the following on the monetary base and the level of reserves. The Fed lends the Bank of America additional $20 million but depositors withdraw $5million. Central bank purchases $30 million of governmen..
The Blue Star Fund assets with a market value of $10.6 million and liabilities of $607,000. What is the net asset value if there are 185,000 shares outstanding? A mutual fund has an NAV of $9.55 with 274,000 shares outstanding. What is the value of t..
Assume that a consumer purchases a combination of product A and product B such that the MUa/Pa=8 and MUb/Pb=6. To maximize utility without spending more money, the consumer should:
Suppose the United States sets a limit on the number of tons of sugar that can be imported each year. This is an example of a(n )?
q1. if argentina wanted to pay off their u.s. dollar debt after the peso devalued how many argentine pesos would it
would there be any automatic Stabilizers in government budget. Would re be any distinction between full-employment deficits and actual beget deficit.
Assume that you were ready to buy a custom tailored Dress (or men’s suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, ..
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