Assume a purely competitive, increasing-cost industry is in long-run equilibrium. If a decline in demand occurs, firms will: Group of answer choices enter the industry and price and quantity will both increase. leave the industry, price will decrease, and quantity produced will increase. leave the industry and price and output will both increase. leave the industry and price and output will both decline. PreviousNext

Which of the following accurately describes a surplus? a. consumer demand for a certain car is below the number of cars that are produced. b. the production costs for a certain car are below the sale price of that car. c. a reduction in the cost of steel enables a car company to reduce the sale price of its cars. d. a car company tries to charge too high a price for a car and has to reduce the price. 2b2t

The dollar value generated over decades of customer loyalty to your company is known as brand equity. viability. sustainability. luck.

The lee family is looking to buy a house in one of two suburban areas just outside of a major city, and air quality is a top priority for them. overall air quality is calculated by taking measures in 100 locations within each suburb and then calculating a measure of central tendency. in one suburb, there is a major bus station that creates very poor air quality at its location but has no impact in the surrounding parts of the suburb. in this situation, which measure of overall suburb air quality would be most useful?