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

Author Question: If a perfectly competitive industry's long-run supply curve is downward sloping, we can conclude ... (Read 99 times)

jman1234

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
If a perfectly competitive industry's long-run supply curve is downward sloping, we can conclude that input prices will:
 a. increase as industry output increases.
  b. decrease as industry output increases.
  c. remain constant as industry output increases.
  d. none of these conclusions can be drawn.

Question 2

A util represents a unit of measurement for the:
 a. dollars a consumer spends on a good.
  b. profit a firm makes from producing a good.
  c. way a consumer will respond to a change in price.
  d. happiness a person obtains from consuming a good.
  e. way a producer will respond to a change in price.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aloop

  • Sr. Member
  • ****
  • Posts: 315
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


jman1234

  • Member
  • Posts: 560
Reply 2 on: Jun 30, 2018
Excellent

Joy Chen

  • Member
  • Posts: 354
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

The human oxygen-hemoglobin dissociation curve. The human oxygen-hemoglobin dissociation curve.
Pronation and Supination Pronation–Lying prone (face downward); also turning the palm downward. Supi Pronation and Supination Pronation–Lying prone (face downward); also turning the palm downward. Supi
The oxygen isotope curve illustrates the ratio between 16O and 18O. The oxygen isotope curve illustrates the ratio between 16O and 18O.
A photograph of Commodore Matthew Perry in 1855 juxtaposed with a Japanese portrait of him. When Per A photograph of Commodore Matthew Perry in 1855 juxtaposed with a Japanese portrait of him. When Per
Linear dose-response curve Linear dose-response curve
Bacteria growth curve Bacteria growth curve
Video: How do the different types of chromatography work? (No Audio)

For a complete list of videos, visit our video library