Unlike its competitors, one glass producer can use its equipment to make either windows for houses or windows for cars. Other things equal, compared to its competitors, its supply curve of windows for cars would be:
a. more elastic than the supply curves of competitors.
b. less elastic than the supply curves of competitors.
c. greater than the supply curves of competitors
d. less than the supply curves of competitors.
a
Economics
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An expansion of the production possibilities frontier is
A) called economic growth. B) proof that scarcity is not a binding constraint. C) a free gift of nature. D) something that has occurred only rarely in history.
Economics
Before entering, fixed cost associated with the industry in question are sunk costs for
A) the incumbent firm. B) the outside firm. C) both firms. D) neither firm.
Economics