The ability of firms to enter and exit a market over time means that, in the long

Question:

The ability of firms to enter and exit a market over time means that, in the long run,

a. the demand curve is more elastic.

b. the demand curve is less elastic.

c. the supply curve is more elastic.

d. the supply curve is less elastic.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Microeconomics

ISBN: 9780357133484

9th Edition

Authors: N Gregory Mankiw

See More Books

Question Posted: Jan 27, 2024 11:01 PM

See More Questions

In the figure, which of the following are opposite rays? A) Ray AB and Ray CD B) Ray CA and Ray CD C) Ray DA and Ray AD D) Ray CA and Ray BD A B C D
Which items may appear as deductions from the profit for the year in the appropriation account of a partnership? Drawings Interest on capital Interest on loan Partner's salary A B D
1. A life-saving medicine without any close substitutes will tend to have a. a small elasticity of demand. b. a large elasticity of demand. c. a small elasticity of supply. d. a large elasticity of...
In Table 12. 1, when r = 0. 02, the present value of the cost rises for 68 years and then subsequently declines. Why? Table 12. 1 TABLE 12.1 Economic Harvesting Decision: Douglas Fir 10 20 30 40 50...
Show that the angular momentum of the particle in problem 21 is L = qBr2 about the center of the circle.
When a petty cash fund is established, the amount is entered as a debit to Petty Cash and a credit to Cash. LO.1
High IQ scores. Scores on theWechsler Adult Intelligence Scale for the 20 to 34 age group are approximately Normally distributed with mean 110 and standard deviation 15. How high must a person score...
You are considering the choice between investing $50,000 in a conventional 1-year bank CD offering an interest rate of 5% and a 1-year Inflation-Plus CD offering 1.5% per year plus the rate of...
Hello, I need some assistance with this two part question. Thank you Applying the Financial Statement Effects Template the warehouse in 2018. costs are paid in cash. Note: For each account category,...
An increase in the supply of grain will reduce the total revenue grain producers receive if a. the supply curve is inelastic. b. the supply curve is elastic. c. the demand curve is inelastic. d. the...
If the price elasticity of supply is zero, the supply curve is a. upward sloping. b. horizontal. c. vertical. d. fairly flat at low quantities but steeper at larger quantities.
Why would we sometimes want to use scenario based risk measures rather than the standard deviation of actual returns over a long time period?
The cable supports two cylinders as shown. Cylinders E and F have a mass of 15 kg and 35 kg, respectively. Determine the sag dc and the tension in each segment of the cable. 2 m 2.5 m -2.5m- 2 m dc E...
A raft foundation having dimensions of 35 m x 35 m in plan is to be constructed on a deep deposit of sand. Foundation depth and the ground water table are both 5 m below the surface. Unit weight of...
Determine the number of 2 X 4 @ 92 5/8" studs needed for the garage in Figures 14.63 and 14.64. The studs are spaced 16 inches on center. Add two studs for each door and corner. Ignore the gable ends...
Sketch a cumulative flow diagram that represents the growth and dissipation of a rush hour period at a toll bridge with time-independent capacity. 1) Identify on the diagram: the arrival curve A(t),...
Plot the reciprocal lattice for a polycrystalline sample o fa material with a simple tetragonal structure and lattice parameters a = 4.0 A and c = 5.0 A. (Use a two dimensional section through the...
In problem 15-3-14 [BNF] determine the diffuser efficiency if the shock is (a) at the inlet and (b) at the exit (%). Problem 15-3-14 Air approaches a diffuser with a pressure of 20 kPa at a Mach...
Element compound homogeneous mixture (heterogeneous mixture) 4) A piece of gold has a mass of 49.75 g. What should the volume be if it is pure gold? Gold has a density of 19.3 g/cm (3 points) D=m/v...
For each of the following, state whether you agree or disagree. Explain your answer. a. Monopolistically competitive firms generate economic profits because they are protected by barriers to entry....
Explain the relationship between price and marginal revenue for a perfectly competitive firm and for a monopolistically competitive firm. Why is the relationship different for these markets?
The following diagram shows the structure of cost and demand facing a monopolistically competitive firm in the short run. a. Identify the following on the graph and calculate each one. i. ...
Slow Roll Drum Co. is evaluating the extension of credit to a new group of customers. Although these customers will provide $198,000 in additional credit sales, 13 percent are likely to be...
Wendell's Donut Shoppe is investigating the purchase of a new $39,600 conut-making machine. The new machine would permit the company to reduce the amount of part-time help needed, at a cost savings...
1.Discuss the challenges faced with Valuing Stocks and Bonds. As part of this discussion, how will the selected item be implemented in an organization and its significance? 2. Discuss how Valuing...

The ability of firms to enter and exit a market over time means that, in the long

Question:

Step by Step Answer:

Principles Of Microeconomics

Students also viewed these Business questions