The long-run supply curve is downward sloping in a(n)

a. decreasing-cost industry
b. increasing-cost industry
c. constant-cost industry
d. labor-intensive industry
e. capital-intensive industry

A

Economics

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Because it is a machine, a personal computer should be treated as a fixed input in the typical firm's short-run production function

Indicate whether the statement is true or false

Economics

Ashley bakes bread that she sells at the local farmer's market. If she purchases a new convection oven that reduces the costs of baking bread, the

a. supply curve for Ashley's bread will increase. b. supply curve for Ashley's bread will decrease. c. demand curve for Ashley's bread will increase. d. demand curve for Ashley's bread will decrease.

Economics