Autoworkers negotiate a wage increase. How does this change affect the supply curve of cars?
A) It shifts the supply curve leftward.
B) It does not shift the supply curve or create a movement along it.
C) It shifts the supply curve rightward.
D) The supply curve will shift but there is not enough information to tell if the change shifts the supply curve rightward, leftward, or not at all.
E) It creates a movement downward along the supply curve.
A
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The price of jet fuel falls. This fall shifts the
A) demand curve for airplane trips rightward. B) demand curve for airplane trips leftward. C) supply curve of airplane trips rightward. D) supply curve of airplane trips leftward.
In the long-run equilibrium, a firm's price definitely equals its average total cost in
A) both monopoly and monopolistic competition. B) neither monopoly nor monopolistic competition. C) monopoly but not monopolistic competition. D) monopolistic competition but not monopoly.