Competitive Resource of Market Supply Curves

Because resources should be hired away through other uses, the resource supply curves facing a huge and expanding competitive industry are classically: (1) horizontal. (2) U shaped. (3) upward sloping. (4) downward sloping. (5) vertical.
Can anybody suggest me the proper explanation for given problem regarding Economics generally?I need a good answer on

the topic of Economics problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Microeconomics

Q : Monopolistically competition A

A monopolistically competitive firm: (w) confronts a perfectly elastic demand curve. (x) is a price taker. (y) faces stiff competition from many competitors producing close substitutes for its product. (z) consciously considers potential responses by

Q : Lowering price of units selling A

A monopolist which does not price discriminate faces a marginal revenue curve which slopes down quicker than its demand curve since: (w) economies of scale are significant. (x) selling more needs lowering the price of

Q : Income effect of a small change in wage

The income effect of a small change within wage rate is approximately identical to the substitution consequence for Glynn at: (i) point a. (ii) point b. (ii) point c. (iv) point d. (v) point e.

Q : Why are buyers and sellers forced to be

Several buyers and sellers are forced to be price-takers since: (w) vigorous competition maintains individuals from noticeably influencing the market. (x) only monopoly firms adjust quantities. (y) markets adjust slowly. (z) quantity adjustment is not

Q : Categorizing goods into intermediate

Describe the basis of categorizing goods into intermediate and final goods. Give appropriate illustrations.

Q : Profit maximizing strategy at breakeven

Nostalgia Corporation would exactly break-even on its Silver Screen DVDs when, in place of correctly identifying its profit maximizing strategy, this: (w) operated at point i, charging only $10 per DVD and producing 8 million DVD. (x)

Q : Higher prices and lower output in market

When a previously competitive industry becomes monopolized along with no consequence on market demand or the structure of production costs, the effect will be: (w) higher prices and greater output. (x) lower prices and greater output.

Q : Labor Force Participation Rates The

The percentage of a specific population who is either unemployed or employed or is termed as the: (i) Labor force participation rate. (ii) Work-force proportion. (iii) Income-leisure loss curve. (iv) Substitution effect dominance rate. (v) Labor supply.

Q : Characterized purely-competitive markets

Purely-competitive markets are NOT characterized through: (i) substantial barriers to entry and exit. (ii) many small potential buyers. (iii) many small potential sellers. (iv) homogeneous products. (v) zero long-run economic profits.

Q : LEAST dependency Demands for labor

Demands for labor depend LEAST upon the levels of: (w) labor productivity. (x) technology as well as amounts of other resources employed. (y) demand for final products. (z) trade off among work (creating income) and leisure.

Discover Q & A

Leading Solution Library

Avail More Than 1420844 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1951171
Asked

3,689

Active Tutors

1420844

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment