If, as a perfectly competitive industry expands, it can supply larger quantities only at a higher long-run equilibrium price, it is
A) a decreasing-cost industry. B) a fixed-cost industry.
C) a constant-cost industry. D) an increasing-cost industry.
D
Economics
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Which of the following assets is almost riskless?
A) Common stocks B) Long-term corporate bonds C) U.S. Treasury bills D) Long-term government bonds E) Apartment buildings
Economics
The income elasticity of demand for a food is unity. A consumer's monthly income is $2,000, of which 20 percent is spent on food. If income doubles, the amount spent on food will be:
A. $400 per month. B. $1,000 per month. C. $500 per month. D. $800 per month.
Economics