Contractual inflexibility is most likely to slow price adjustment in the

The return that the entrepreneur can obtain in the best alternative business is called the

A) normal profit. B) economic profit. C) marginal profit. D) marginal revenue.

A decrease in supply, with no change in demand, will lead to ________ in equilibrium quantity and ________ in equilibrium price.

A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease