Refer to Figure 12-14. Consider a typical firm in a perfectly ...

[strangeaffliction]

Refer to Figure 12-14. Consider a typical firm in a perfectly competitive industry which is incurring short-run losses. Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?
 
  A) Panel A B) Panel B C) Panel C D) Panel D

Question 2

If labor productivity growth slows down in a country, this will
 
  A) slow down the increase in real GDP per capita. B) accelerate the increase in nominal GDP.
  C) slow down the increase in nominal GDP. D) accelerate the increase in real GDP per capita.

[johnpizzaz]

Answer to Question 1

A

Answer to Question 2

A

[strangeaffliction]

Thanks for the timely response, appreciate it

[nanny]

Excellent