This topic contains a solution. Click here to go to the answer

Author Question: Economic profits in a perfectly competitive industry will encourage entry of new firms, which will ... (Read 102 times)

lak

  • Hero Member
  • *****
  • Posts: 546
Economic profits in a perfectly competitive industry will encourage entry of new firms, which will shift the market supply curve to the right.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The marginal cost of extraction of a nonrenewable resource increases with passage of time because:
 a. the technology used in extraction depreciates in value.
  b. the price of the product that uses this resource decreases.
  c. the exchange rate in the international market appreciates.
  d. the tragedy of commons problem arises.
  e. the resource gradually becomes scarce.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kjones0604

  • Sr. Member
  • ****
  • Posts: 327
Answer to Question 1

True

Answer to Question 2

e




lak

  • Member
  • Posts: 546
Reply 2 on: Jun 30, 2018
:D TYSM


ebonylittles

  • Member
  • Posts: 318
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

For a complete list of videos, visit our video library