Compared to the short run, the long-run market supply curve is
a. less elastic
b. equally elastic
c. more elastic
d. always negatively sloped
e. None of the answers is correct.
C
Economics
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In the specific factors model, a 5% decrease in the price of food accompanied by a 5% decrease in the price of cloth will cause ________ in the welfare of labor, ________ in the welfare of the fixed factor in the production of food, and ________ in
the welfare of the fixed factor in the production of cloth. A) no change; no change; no change B) an increase; an increase; an increase C) a decrease; an increase; an increase D) an increase; a decrease; a decrease E) a decrease; a decrease; a decrease
Economics
Which country had the highest rate of technological progress from 1985 to 2013?
A) Japan B) France C) United States D) United Kingdom
Economics