Refer to the diagrams, which pertain to a purely competitive firm producing output q and the industry in which it operates. The predicted long-run adjustments in this industry might be offset by:
A. a decline in product demand.
B. an increase in resource prices.
C. a technological improvement in production methods.
D. entry of new firms into the industry.
C. a technological improvement in production methods.
Economics
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The value of a household's assets minus the value of its liabilities is called
A) wealth. B) income. C) debt. D) stock.
Economics
During Japan's economic slump in the early 1990s, monetary policy:
a. was highly effective at stimulating income. b. was caught in a liquidity trap as a result of high inflation and interest rates. c. was ineffective because of a liquidity trap caused by near zero interest rates. d. was never even attempted. e. was the cause of the slump.
Economics