Author Question: If a perfectly competitive industry uses a large proportion of the available inputs in a resource ... (Read 55 times)

melly21297 · **on:** Jun 30, 2018

If a perfectly competitive industry uses a large proportion of the available inputs in a resource market, then the long-run market supply curve for the industry will most likely be:
a. vertical.
b. horizontal.
c. upward sloping.
d. downward sloping.

Question 2

Transfer programs are so named because they transfer:
a. the burden of poverty alleviation from the church to the state.
b. the poverty from the country side to the city.
c. the responsibility for maintaining minimum standards of living from the federal government to state governments.
d. income from the relatively high-income people to relatively low-income people.
e. the incidence of poverty from predominantly ethnic groups to the majority white population.