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Author Question: Refer to Figure 12-12. Consider a typical firm in a perfectly competitive industry that makes ... (Read 58 times)

melina_rosy

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on: Jun 29, 2018
Refer to Figure 12-12. Consider a typical firm in a perfectly competitive industry that makes short-run profits. 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

Technological advancements that increase labor's productivity shift the labor supply curve to the right.
 
  Indicate whether the statement is true or false
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kingdude89

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

FALSE


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