Multiple Choice
When resources move from a low-profit industry into a high-profit industry,:
A) supply in the low-profit industry decreases, raising the market price.
B) demand in the low-profit industry decreases, lowering the market price.
C) supply in the high-profit industry decreases, raising the market price.
D) supply in the high-profit industry increases, raising the market price.
Correct Answer:
Verified
Correct Answer:
Verified
Q25: The Invisible Hand Property 2 maintains that:<br>A)
Q26: Competitive firms want to produce the quantity
Q27: Use the following to answer questions:<br>Figure: Marginal
Q28: If a firm has revenues of $125,
Q29: Which of the following best help entrepreneurs
Q31: In a perfectly competitive market,:<br>A) marginal costs
Q32: Perfectly price discriminating monopolists earn _ profits.<br>A)
Q33: In a competitive market, the amount of
Q34: Which of the following factors cause markets
Q35: The invisible hand works best in:<br>A) monopoly