Refer to the diagrams, which pertain to a purely competitive firm producing output q and the industry in which it operates. In the long run we should expect: Multiple Choice firms to enter the industry, market supply to rise, and product price to fall. firms to leave the industry, market supply to rise, and product price to fall. firms to leave the industry, market supply to fall, and product price to rise. no change in the number of firms in this industry.

To be able to better compare stock performance within the same industry, similar companies are grouped into? a)market sectors b) industry blocks c) performance sectors d) average earning blocks

Hours to produce one unit worker hours to produce yarn country a 8 hours country b 4 hours worker hours to produce fabric counrty a 12 hours country b 13 hours additional worker hours to produce fabric instead of yarn country a ? country b? which of the follow is true of the trade relationship between country a and country b? country a has an absolute advantage in producing yarn and fabric country b has an absolute advantage in producing yarn and fabric country b has a comparative advantage to country a in producing fabric country a has a comparative advantage to country b in producing fabric

4.     chef a says that broth should be brought to a boil. chef b says that broth should be kept at an even, gentle simmer. which chef is correct? a. neither chef is correct. b. chef a is correct. c. both chefs are correct. d. chef b is correct. student c   incorrect which is right answer