Which of the following has not influenced global poverty rates?

What does it mean when a good is excludable?

a) One person's use of the good diminishes another person's ability to use it. b) Everyone will be excluded from obtaining the good. c) People can be prevented from using the good. d) No more than one person can use the good at a time.

Assume a perfectly competitive firm is in long-run equilibrium and there is a decrease in market demand for the firm's output. Which of the following will occur?

A) Existing firms will maintain the original level of output, but they will shift their cost functions down in the short run. B) Existing firms will raise price to cover the reduction in quantity demanded and maintain total revenue in the short run. C) Existing firms will reduce output in the short run. D) Market price will be above its original level.