Economics: Market Structure and Macroeconomic Analysis - Rea white, supply, class, black

mayanfang1

Q11. Compared to the short-run supply curve, the long-run supply curve is:

A)     steeper sloping upward to the right.

B)     more inelastic.

C)     flatter.

 

Q12. Which of the following is least likely a characteristic of the long-run industry supply curve?

A)     The long-run supply curve is flatter than the short-run supply curve.

B)     In the long run, there will be a greater change of quantity supplied for a given price change, than in the short run.

C)     The long-run supply curve is less elastic than the short run supply curve.

Q13. Which of the following statements about supply curves is least accurate? The:

A)   long-run supply curve for constant cost industries is horizontal.

B)   long-run supply curve for decreasing cost industries slopes downward to the right.

C)   supply curve for the market is typically more elastic over the short run than the long run.

[此贴子已经被作者于2009-1-6 13:51:30编辑过]

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