If there is an increase in industry supply while the industry demand curve remains the same, then an individual firm in a perfectly competitive industry currently earning positive profits will see its profits
A. not change.
B. increase.
C. decrease.
D. impossible to determine
Answer: C
Economics
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Holding everything else constant, an increase in the price of MP3 players will result in
A) a decrease in the quantity of MP3 players supplied. B) a decrease in the demand for MP3 players. C) an increase in the supply of MP3 players. D) a decrease in the quantity of MP3 players demanded.
Economics
What economic framework can inform the debate on immigration?
What will be an ideal response?
Economics