Some argue that a nation should not depend too heavily on other countries for supplies of certain key products, special materials, or technologies that might have ______________ applications.

A perfectly competitive firm has to charge the same price as every other firm in the market. Therefore, the firm

A) faces a perfectly elastic supply curve. B) is not able to make a profit in the short run. C) faces a perfectly inelastic demand curve. D) is a price taker.

Suppose each worker must use only one shovel to dig a trench, and shovels are useless by themselves. In the short run, an increase in the price of shovels will result in

A) fewer shovels being purchased. B) more workers being hired. C) a decrease in the firm's output. D) no change in the firm's output.