Please Use This Outline Map of Europe to Answer the Question(s)

question 41

Essay

Please use this outline map of Europe to answer the question(s).

-On a map of Europe, fill in the following areas using colored pencils: Hitler's Greater Germany, states allied with Germany, and areas occupied by Germany and its allies.

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Definitions:

Decreasing-Cost Industry

An industry in which expansion through the entry of firms lowers the prices that firms in the industry must pay for resources and therefore decreases their production costs.

Long-Run Supply Curve

As it applies to macroeconomics, a supply curve for which price, but not real output, changes when the demand curves shifts; a vertical supply curve that implies fully flexible prices.

Downsloping

Typically describes a graph line that shows a decrease in a variable as another variable increases, often used in economics to illustrate concepts like demand curves.

Profit-Maximizing

The technique a firm uses to ascertain the optimal pricing and production levels for achieving maximum profit.