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

Author Question: Refer to Figure 12-11. Suppose the prevailing price is 20 and the firm is currently producing 1,350 ... (Read 85 times)

Starlight

  • Hero Member
  • *****
  • Posts: 567
on: Jun 29, 2018
Refer to Figure 12-11. Suppose the prevailing price is 20 and the firm is currently producing 1,350 units. In the long-run equilibrium
 
  A) there will be fewer firms in the industry and total industry output decreases.
  B) there will be fewer firms in the industry but total industry output increases.
  C) there will be more firms in the industry and total industry output remains constant.
  D) there will be more firms in the industry and total industry output increases.

Question 2

The sum of the value added of every firm involved in producing all final goods and services ________ gross domestic product.
 
  A) is sometimes greater than and other times less than
  B) equals
  C) is greater than
  D) is less than


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jharrington11

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


Starlight

  • Member
  • Posts: 567
Reply 2 on: Jun 29, 2018
Gracias!

bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

A subdural hematoma. A meningeal vein is ruptured and blood has accumulated in the subdural space, p A subdural hematoma. A meningeal vein is ruptured and blood has accumulated in the subdural space, p
Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ... Neck stretch. Rest the receiver’s head on the palm of your right hand, taking a firm hold on the ...
Statuette of a Male Figure Statuette of a Male Figure
EYEMA-O-BYERI (Reliquary Figure) EYEMA-O-BYERI (Reliquary Figure)
Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and Punnett square of the dihybrid cross shown in Figure 3.8. There are two combinations of dominant and
Video: Glycolysis - Introduction to ATP and the burning of sugar

For a complete list of videos, visit our video library