This topic contains a solution. Click here to go to the answer

Author Question: Which of the following events does NOT occur when market demand shifts leftward in an ... (Read 65 times)

jessicacav

  • Hero Member
  • *****
  • Posts: 558
Which of the following events does NOT occur when market demand shifts leftward in an increasing-cost industry?
 
  A) Initially, the output produced by existing firms declines along the short-run market supply curve.
  B) The market price declines below the minimum LAC due to the short-run supply response.
  C) The market supply curve shifts leftward as some firms exit the market when the market price is below the minimum LAC.
  D) As firms exit, the market price rises and attracts other firms to enter the market.
  E) The LAC curve shifts downward as output falls.

Question 2

If discrimination ceased altogether, minority workers would still be handicapped by past labor market discrimination.
 
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

stano32

  • Sr. Member
  • ****
  • Posts: 339
Answer to Question 1

D

Answer to Question 2

T





 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

For a complete list of videos, visit our video library