If the firms in a market have constant returns to scale ...

[james9437]

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.

[taylorsonier]

Answer to Question 1

C

Answer to Question 2

B

[james9437]

TYSM

[amandanbreshears]

Excellent