An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs ?

Related Mcqs:

A legally determined price above the equilibrium price is__________________?

A. Floor price B. Ceiling price C. Equilibrium price D. None...

The value of a product sold by a firm less the value of the products purchased and used by the firm to produce the product____________________?

A. Value added B. Value of money C. Vertical range D. None...

A schedule showing the amounts households plan to spend for consumer goods at different levels of disposable income is called________________?

A. Income schedule B. Saving schedule C. Consumption schedule D. None...

A large govt. role and some degree of coordinated economic decision making directed towards transforming the economy are usually viewed as essential components of__________________?

A. Tradititional economics B. Development economics C. Political economics D. None...

The use of foreign currency as a medium of exchange in place of or long with the local currency e.g. (Mdexican Pesos)___________________?

A. Partial substitution B. Currency substitution C. Currency devaluation D. None...