--%>

Competitive Resource Market Supply Curves

Can someone please help me in finding out the accurate answer from the following question. As resources should be hired away from other utilizations, the resource supply curves facing a big and expanding competitive industry are usually: (1) U shaped. (2) Horizontal. (3) Upward sloping. (4) Downward sloping. (5) Vertical.

   Related Questions in Microeconomics

  • Q : Public Policy and the Distribution of

    The two policies that most likely account for most of the trend toward greater income equality during 1929 and 1975 are: (w) improved educational opportunities, and tax and transfer policies. (x) reduced sex discrimination and public availability of b

  • Q : Buyer beware-Laws and Regulations I

    I have a problem in economics on Buyer beware-Laws and Regulations. Please help me in the following question. Caveat emptor signifies: (i) Let the sellers beware. (ii) Sellers are the most excellent judges of the quality of their goods. (iii) Charge w

  • Q : Define legal tender money Legal tender

    Legal tender money: Money which is declared legally as the medium of exchange by government is termed as legal tender money.

  • Q : Determine price elasticity of perfectly

    A city government trying to pass an excise tax for that the economic burden would be borne strictly through the seller will succeed when this imposes a tax on a good for that the price elasticity of: (i) demand is unitarily elastic. (

  • Q : Change in prices after short run demands

    Can someone please help me in finding out the accurate answer from the following question. The changes in gasoline prices do not change short-run demands for (1) Bigger versus smaller cars. (2) Gasoline. (3) Alternative forms of the transportation. (4) Batteries, Tire

  • Q : Equal Income Distribution The income

    The income distribution tends to become more equal most quickly as countries become more: (1) socialistic. (2) capitalistic. (3) economically developed. (4) centrally planned. (5) agricultural. Please choose the ri

  • Q : Question based on GDP In calculating

    In calculating the GDP national income accountants: A) treat inventory changes as an adjustment to personal consumption expenditures. B) ignore inventories because they do not represent final goods. C) subtract increases in inventories or add decreases in inventories.

  • Q : Goods trading problem Choose the right

    Choose the right answer from following. In recent years the United States has: A) exported more services abroad than it has imported. B) had a small goods trade surplus with Japan. C) had a large goods trade surplus with the rest of the world. D) fallen to third behin

  • Q : Tax and interest rate related problem

    If business taxes are decreased and the real interest rate increases: A) consumption and saving will necessarily increase. B) the level of investment spending might either increase or decrease. C) the level of investment spending will necessarily increase. D) the leve

  • Q : Problem on losing financial investments

     Can someone please help me in finding out the precise answer from the following question. Owners generally can’t lose more than their financial investments when a firm is a: (i) Proprietorship. (ii) Family business. (iii) Partnership. (iv) Corporation.