While the price of a resource may increase sharply during some periods, the structure of ____ accompanying the price increase makes depletion highly unlikely and provides the seeds for future reversal
a. government programs
b. foreign competition
c. incentives
d. taxation
C
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Last year, the Pottery Palace supplied 8,000 ceramic pots at $40 each. This year, the company supplied the same quantity of ceramic pots at $55 each. Based on this evidence, The Pottery Palace has experienced
A) an increase in the quantity supplied. B) a decrease in supply. C) a decrease in the quantity supplied. D) an increase in supply.
Which of the following is a correct listing of industry models ordered from most competitive to least competitive?
a. perfect competition - monopolistic competition - monopoly b. perfect competition - monopoly - monopolistic competition c. monopolistic competition - perfect competition - monopoly d. monopolistic competition - monopoly - perfect competition