When a Resource Used in the Production of a Good

question 174

True/False

When a resource used in the production of a good sold in a competitive market is available in only limited quantities, the long-run supply curve is likely to be upward sloping.

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Definitions:

Common Stock

An equity ownership interest in a corporation, typically entitling the owner to vote on corporate governance matters and receive dividends.

Earnings Per Share

A company's profit divided by the number of outstanding shares of its common stock, indicating the company's profitability.

Outstanding

An adjective describing something that is still in progress, unsettled, not yet resolved, or in the case of financials, amounts owed that have not yet been paid.

Shares Issued

The total number of shares that a corporation has legally sold to shareholders, including those held by the public and by the company.