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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Which of the following is not a characteristic of oligopoly?
A) the ability to influence price B) a small number of firms C) interdependent firms D) low barriers to entry
Economics
In the simple Keynesian model, equilibrium exists when
a. actual investment equals realized investment. b. exports equal imports. c. savings is equal to government spending plus desired investment minus taxes. d. national product is equal to consumption minus desired investment plus government spending. e. None of the above
Economics