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Author Question: If input prices for a perfectly competitive industry remain constant as the output of the industry ... (Read 463 times)

dbose

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  • Posts: 597
on: Jun 30, 2018
If input prices for a perfectly competitive industry remain constant as the output of the industry expands in the long run, the industry supply curve will:
 a. have a positive slope.
  b. have a negative slope.
  c. be perfectly horizontal.
  d. be perfectly vertical.

Question 2

In the context of consumer choice theory, utility means:
 a. usefulness.
  b. satisfaction.
  c. practicality.
  d. boring.
  e. action.


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ky860224

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


dbose

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  • Posts: 597
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

covalentbond

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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