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james9437

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If the firms in a market have constant returns to scale internally while there are external economies of scale for the industry, a firm's long-run supply curve will be ________ and the long-run market supply curve will be ________.
 
  A) downward sloping; downward sloping
  B) upward sloping; horizontal
  C) horizontal; downward sloping
  D) downward sloping; horizontal
  E) upward sloping; downward sloping

Question 2

Since World War II, the likelihood that any single item in the typical consumption basket of a consumer in the U.S. originated outside of the U.S.
 
  A) remained constant.
  B) increased.
  C) decreased.
  D) fluctuated widely with no clear trend.
  E) increased slightly before dropping off.



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taylorsonier

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Answer to Question 1

C

Answer to Question 2

B




james9437

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it


elyse44

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Reply 3 on: Yesterday
Excellent

 

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