When economic profits are positive in a perfectly competitive ...

[RYAN BANYAN]

When economic profits are positive in a perfectly competitive industry,
 a. we would expect the market supply curve to shift to the left as a result.
  b. we would expect the market supply curve to shift to the right as a result.
  c. we would not expect any change in the market supply curve to result.
  d. we would expect that the market demand curve to shift right as a result

Question 2

Which of the following is an effect of paper recycling on pulpwood?
 a. Recycling leads to an increase in acreage devoted to pulpwood.
  b. Recycling leads to a decrease in acreage devoted to pulpwood.
  c. Recycling increases the demand for pulpwood.
  d. Recycling increases the market price of pulpwood.

[TINA]

Answer to Question 1

b

Answer to Question 2

B

[RYAN BANYAN]

Thank you

[TINA]

No problemo