An Industry Where a Change in the Number of Firms

question 99

Multiple Choice

An industry where a change in the number of firms does not affect the prices of the resources used in the industry will have a long-run supply curve that is

• A)vertical.
• B)horizontal.
• C)upsloping.
• D)downsloping.

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Definitions:

President Carter

Refers to James Earl Carter Jr., the 39th President of the United States, serving from 1977 to 1981, known for his emphasis on peace, human rights, and environmental issues.

Saddam Hussein

The fifth President of Iraq, serving from 1979 to 2003, who led the country during the Iran-Iraq War and the Gulf War before being deposed by a U.S.-led coalition.

United States Government

The federal government of the United States, composed of three branches: legislative, executive, and judicial.

Action Research

A participative research method focusing on solving real-world problems while simultaneously generating applicable knowledge.