If input prices for a perfectly competitive firm increase as the output of the industry expand in the long run, the long-run industry supply curve will:
a. have a positive slope.
b. have a negative slope.
c. be perfectly horizontal.
d. be perfectly vertical.
Question 2
The term utility refers to the:
a. usefulness of a good in relation to its scarcity.
b. necessity of a good.
c. price of a good.
d. number of goods a consumer has.
e. pleasure or satisfaction a consumer receives upon consuming a good.
Primary production increases with an increase in total phosphorus concentration.
Non-competitive inhibition
A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
Competitive enzyme immunoassay. (a) Shows the uninhibited reaction and (b) shows the inhibited ...
Natural Resource Prices, 1850–2010