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The market supply curve for a perfectly competitive, constant cost industry is
A. Horizontal in the short run
B. Likely to become perfectly inelastic as the length of time covered by the curve grows
C. The horizontal summation of the marginal cost curves for all firms above the minimum average variable cost
D. The numerical average of all the individuals firms' supply curves
E. Identical with the supply curve of a perfectly competitive firm
Sort the items below according to whether they promote economic growth or inhibit economic growth-Price controls imposed on milk, The enforcement of trademarks, The government confiscating farmland, The presence of clearly defined property rights
For which good does Canada have a comparative advantage?
Why do producers have more interest in government regulations than consumers do? Compare and contrast the public-interest and special-interest theories of economic regulation.
What is meant by adding "autonomous" net exports 2] What affect would positive net exports have on Y* negative? Net Exports equal to zero How would the aggregate expenditures function be affected in each case Present each case graphically.
You're the manager of the firm that sells a commodity in market that resembles perfect competition, and your cost function is C(Q)=Q+2Q^2. Compute the expected market price.
Self-interest is a powerful motivator. Does this necessarily imply that people are selfish and greedy? Do self-interest and selfishness mean the same thing"?
Given production function Q= 100(L^0.5)(K^0.5), where L = labor hours per unit time, K=machine hours per unit time, and Q=output per unit time.
The market demand curve for the industry is D(P) = 240- P/2. At the equilibrium market price, each firm produces 20 units. what is the equilibrium market price, and how many firms are in this industry.
your son is graduating from high school and is about to enter the work force. he has developed a strong curiosity about
Find Michael's income elasticity for filets.
in 2010 many unskilled workers in the united states earned the federal minimum wage of 7.25 per hour. by contrast
Consider an investment portfolio of $50,000 in stock A and $50,000 in stock B. The expected value of A is 9.5% and B is 6%. The variance of A is 13% and the variance of B is 8%.
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