According to this Application, the decline in population resulting from the Black Death caused the ________ curve for labor to shift to the ________

What effect does the entry of new firms in a monopolistically competitive market have on the economic profits of existing firms in the market? How might existing firms attempt to counteract this effect?

What will be an ideal response?

As the stock of a depletable resource falls, its user cost

A) rises. B) falls. C) is unchanged, but its price rises. D) is unchanged, but the extraction cost rises. E) is unchanged, but its true cost rises.