This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If input prices for a perfectly competitive industry remain constant as the output of the industry ... (Read 148 times)

dbose

  • Hero Member
  • *****
  • Posts: 597
on: Jun 30, 2018
If input prices for a perfectly competitive industry remain constant as the output of the industry expands in the long run, the industry supply curve will:
 a. have a positive slope.
  b. have a negative slope.
  c. be perfectly horizontal.
  d. be perfectly vertical.

Question 2

In the context of consumer choice theory, utility means:
 a. usefulness.
  b. satisfaction.
  c. practicality.
  d. boring.
  e. action.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ky860224

  • Sr. Member
  • ****
  • Posts: 350
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


dbose

  • Member
  • Posts: 597
Reply 2 on: Jun 30, 2018
:D TYSM

amit

  • Member
  • Posts: 364
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

The ratio of hydrogen atoms to oxygen in water (H2O) is 2:1.

For this bimolecular reaction, the rate constant k is second order For this bimolecular reaction, the rate constant k is second order
A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ... A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ...
Natural Resource Prices, 1850–2010 Natural Resource Prices, 1850–2010
Possible Sources of Differences in Output per Worker Possible Sources of Differences in Output per Worker
Role of Factors of Production in Determining Output per Worker, 2009 Role of Factors of Production in Determining Output per Worker, 2009
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Corpus Callosum Animation

For a complete list of videos, visit our video library