If input prices for a perfectly competitive industry remain ...

[dbose]

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.

[ky860224]

Answer to Question 1

c

Answer to Question 2

b

[dbose]

Thanks for the timely response, appreciate it

[amandalm]

Excellent