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Author Question: For a perfectly competitive industry, an improvement in technology will cause (Read 75 times)

newbem

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on: Apr 19, 2019

Question 1

Industries in which firms are enjoying positive profits are likely to ________ in the long run.


◦ expand
◦ contract
◦ neither expand nor contract, as firms must earn an economic profit to stay in business
◦ expand or contract depending on the normal rate of return

Question 2

For a perfectly competitive industry, an improvement in technology will cause


◦ a movement up the short-run industry supply curve.
◦ a movement down the short-run industry supply curve.
◦ the industry short-run supply curve to shift to the right.
◦ the industry short-run supply curve to shift to the left.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by newbem on Apr 19, 2019

diesoon

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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newbem

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

Sarahjh

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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