An increase in the demand for a good means that:
a. the demand curve has shifted to the left.
b. the good's price has fallen and, as a result, consumers are buying more of the good.
c. the good has become scarce.
d. consumers are willing to purchase more of the good at each possible price.
d
Economics
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In monopolistic competition, there are ________ barriers to entry and so firms in monopolistic competition ________ earn an economic profit in the long run
A) high; can B) high; cannot C) no; can D) no; cannot E) sometimes; can sometimes
Economics
When governments specify the maximum amount of a good that may be imported in a given period of time, they are establishing a
A) tariff. B) quota. C) dynamic tariff. D) tax. E) dumping limit.
Economics