When there are barriers to entry, a profit-maximizing firm already in the industry can charge any price it wants, even in the long run

Which of the following will not shift a supply curve?

A) a change in the price of relevant resources B) a change in the good's own price C) a change in the number of sellers D) a change in per-unit costs brought about by a change in taxes

Using Figure 48.1, modeling the attacks of September 11, 2001, you would Figure 48.1

A. use Panel 1 only with a shift from ADB to ADA. B. use Panel 2 only with a shift from ASA to ASB. C. use Panel 1 only with a shift from ADA to ADB. D. use Panel 1 to model the aggregate demand shock (ADB to ADA) and Panel 2 to model the aggregate supply shock (ASB to ASA).