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Author Question: If input prices for a perfectly competitive firm increase as the output of the industry expand in ... (Read 66 times)

c0205847

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on: Jun 30, 2018
If input prices for a perfectly competitive firm increase as the output of the industry expand in the long run, the long-run industry supply curve will:
 a. have a positive slope.
  b. have a negative slope.
  c. be perfectly horizontal.
  d. be perfectly vertical.

Question 2

The term utility refers to the:
 a. usefulness of a good in relation to its scarcity.
  b. necessity of a good.
  c. price of a good.
  d. number of goods a consumer has.
  e. pleasure or satisfaction a consumer receives upon consuming a good.


cassie_ragen

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

e


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