A perfectly competitive industry's short-run supply curve is best described as
A) the upward sloping portion of the industry's marginal cost curve.
B) horizontal.
C) perfectly inelastic.
D) the horizontal summation of the individual firms' supply curves.
Answer: D
Economics
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People have a demand for liquidity because
A) liquidity increases one's options. B) the rate of interest is positive. C) they have confidence in their own future earning power. D) they prefer present goods to future goods.
Economics
GDP excludes the value of all these goods and services EXCEPT
What will be an ideal response?
Economics