When a new Walmart locates in an area, other retail stores and restaurants often locate nearby, exhibiting what economists call Walmart's ________ factor.

A sudden increase in the market demand in a competitive industry leads to

a. Losses in the short-run and average profits in the long-run b. Above average profits in the short-run and average profits in the long-run c. New firms being attracted to the industry d. Both B&C

Consider a two-goods (capital and consumption) production possibilities curve for the year 2004 . Which of the following pairs are assumed fixed in this scenario?

a. unemployment and capital goods production in the year 2004 b. number of resources and consumption goods production in the year 2004 c. composition of the economy's output and number of resources in the year 2004 d. capital and consumption goods production in the year 2004 e. technology and number of resources in the year 2004