With identical firms, constant input prices, and all the other characteristics of a competitive market
A) the long run equilibrium price is the minimum of the average cost curve.
B) a shift in demand will change the equilibrium price and quantity.
C) the long run and short run equilibria are identical.
D) Both A and B.
A
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Refer to the scenario above. What will be the future value of the deposit after 3 years?
A) $9,822.63 B) $9,964.21 C) $10,077.70 D) $10,220.98
Which of the following is not a problem for the price system allocating resources among different time periods?
a. Interest rates are used for a variety of purposes other than influencing investment. b. The market devotes too much to immediate consumption. c. Our market system leads to lesser real incomes for later generations. d. Our market system despoils irreplaceable natural resources.