Author Question: Refer to Figure 12-14. Consider a typical firm in a perfectly competitive industry which is ... (Read 139 times)

strangeaffliction · **on:** Jun 29, 2018

Refer to Figure 12-14. Consider a typical firm in a perfectly competitive industry which is incurring short-run losses. Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?

A) Panel A B) Panel B C) Panel C D) Panel D

Question 2

If labor productivity growth slows down in a country, this will

A) slow down the increase in real GDP per capita. B) accelerate the increase in nominal GDP.
C) slow down the increase in nominal GDP. D) accelerate the increase in real GDP per capita.