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

Author Question: Assume that the LCD and plasma television sets industry is perfectly competitive. Suppose a producer ... (Read 68 times)

ap345

  • Hero Member
  • *****
  • Posts: 537
on: Jun 29, 2018
Assume that the LCD and plasma television sets industry is perfectly competitive. Suppose a producer develops a successful innovation that enables it to lower its cost of production. What happens in the short run and in the long run?
 
  A) The firm will probably incur losses temporarily because of the high cost of the innovation, but in the long run it will start earning positive profits.
  B) The firm will be able to increase its economic profits temporarily, but in the long run its economic profits will be eliminated as other firms copy the innovation.
  C) Initially, the firm will be able to increase its profit significantly, but in the long run its profits will still be greater than zero but lower than its short-run profits because other firms would also innovate.
  D) This firm will be able to earn above normal profits indefinitely if it obtains a patent for its innovation.

Question 2

A decrease in the price level will
 
  A) shift the aggregate demand curve to the right.
  B) move the economy down along a stationary aggregate demand curve.
  C) move the economy up along a stationary aggregate demand curve.
  D) shift the aggregate demand curve to the left.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

emilymalinowski12

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 29, 2018
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.
Answer Preview
Only 25% of students answer this correctly


ap345

  • Member
  • Posts: 537
Reply 2 on: Jun 29, 2018
Excellent

parker125

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Single-dose drug administration: pharmacokinetic values for this drug are as follows: onset of actio Single-dose drug administration: pharmacokinetic values for this drug are as follows: onset of actio
Electron micrograph of the plasma membranes of two cells showing the glycocalyx. Electron micrograph of the plasma membranes of two cells showing the glycocalyx.
Plasma insulin binds to receptors on target cells to enter the cells, which starts actions that lead ... Plasma insulin binds to receptors on target cells to enter the cells, which starts actions that lead ...
The Plasma Membrane The Plasma Membrane
Plasma, Filtrate and Urine Compositions Plasma, Filtrate and Urine Compositions
An archaeological sample contains 0.700 g of lead-206 and 2.144 g of uranium-238. Assume that ... An archaeological sample contains 0.700 g of lead-206 and 2.144 g of uranium-238. Assume that ...
Video: Integumentary Anatomy

For a complete list of videos, visit our video library