If the long-run supply curve in a perfectly competitive industry is upward sloping, this is because
A) firms are different.
B) firms are identical.
C) input prices rise as the industry expands.
D) Either A or C.
D
Economics
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When an asset is traded for goods and services it is serving the function of a ________
A) store of value B) loanable fund C) unit of account D) medium of exchange
Economics
Featherbedding allows unions to increase wages by:
a. limiting the supply of labor. b. increasing firms' demand for labor. c. forcing firms to accept higher-than-equilibrium wages. d. reducing labor share of payroll taxes.
Economics