If firms in a perfectly competitive market are incurring economic losses, then as time passes firms ________ and the market ________
A) enter; demand curve shifts leftward
B) enter; supply curve shifts rightward
C) exit; demand curve shifts leftward
D) exit; supply curve shifts rightward
E) exit; supply curve shifts leftward
E
Economics
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In 2007, the public debt was
a. roughly $500 million b. nearly $1 trillion c. nearly $3 trillion d. $9 trillion e. over $25 trillion
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Your friend tells you that her dad just suffered from a stroke because his blood pressure and cholesterol were too high. You know that your own father also has high blood pressure so you become worried that he will also have a stroke. This is an example of which systematic mistake that people make?
Economics