A stair-like market supply curve is the result of
A) higher cost firms charging a higher price for their products.
B) firms having different costs.
C) firms shutting down in the long run.
D) average variable costs that are higher than average fixed costs.
Question 2
If a community spends more than the amount a categorical grant requires, the effect is _____.
a. the same as a general grant
b. better than a general grant
c. worse than a general grant
d. impossible to determine given the available information
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