This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assume that all of the inputs used in a particular perfectly competitive industry can be increased ... (Read 22 times)

Yolanda

  • Hero Member
  • *****
  • Posts: 757
on: Jun 30, 2018
Assume that all of the inputs used in a particular perfectly competitive industry can be increased without bidding up their prices. The long run supply curve for that industry will be:
 a. vertical.
 b. upward sloping.
 c. horizontal.
 d. downward sloping.

Question 2

The terms of trade is defined as:
 a. the quantity of inputs sacrificed to produce each unit of a good.
  b. the quantity of one good that is exchanged for a quantity of another good.
  c. the ratio of the total cost of production of individual traders.
  d. the marginal cost of producing one good as a percentage of the marginal cost of another good.
  e. the ratio of total exports of a nation to its total production.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

asware1

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


Yolanda

  • Member
  • Posts: 757
Reply 2 on: Jun 30, 2018
Excellent

Kedrick2014

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

(a) Longevity decreases with increased horn-length breeding value of harvested rams. (b) Mean-weight (a) Longevity decreases with increased horn-length breeding value of harvested rams. (b) Mean-weight
bio industry bio industry
Mechanisms of action of adrenergic agonists: (1) stimulation of the release of NE; (2) increased ... Mechanisms of action of adrenergic agonists: (1) stimulation of the release of NE; (2) increased ...
Horizontal, sagittal, and coronal functional MRIs show areas of increased activity in the primary ... Horizontal, sagittal, and coronal functional MRIs show areas of increased activity in the primary ...
Increased acidity inhibits the growth of coral and other carbonate shell-building organisms Increased acidity inhibits the growth of coral and other carbonate shell-building organisms
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
Video: Secretin (inhibiting gastric acid secretion), Cholecystokinin (fat digestion) & Cholecystokinin

For a complete list of videos, visit our video library