Answer:
a. increase price in the short run but not in the long run.
Explanation:
A perfectly competitive market is one in which firms in an economy produce similar goods, and use resources that are limited in quantity.
An increase in demand will result in a corresponding increase in price, and results in firms making high profits. In the diagram below it results in a shift of demand from D1 to D2.
In the long run as firms have low barrier to entry more firms enter the market and supply shifts from S1 to S2. There is reduction in prices and profits start to fall. This is illustrated in the second diagram.
Actually the quartile represents in what rank or order the
team is when all the goals per team is arranged in ascending order. So for
example since the team is on the first quartile, so this means it is on the 25%
of the ranking. Hence we can say that:
“the team scored fewer goals per game
than 75% of the teams in the league”
As a cashier it is your responsibility to follow the manager's instruction of entering each sale immediately after it occurs. Now, if the assistant manager told you otherwise, do not follow it because you might miss any sale if it will be entered later. Even if it is lunch hour traffic, this is also a crucial time to not make errors.
Answer:
The aggregate demand will fall
Explanation:
The aggregate supply measures the quantity of real GDP that can be supplied by in the economy at different price levels. it measures planned output if both prices and average wage rates can change, the Long run aggregate supply curve is assumed to be vertical (this means it remains constant when the general price level changes).
The leftward shift in aggregate supply means that at the same price levels the quantity supplied of real GDP has decreased. This is mostly due to natural disasters or other supply shocks like economic depression, when there is leftward shift in aggregate there would be fewer workers available to produce goods at any given price.
Answer:
forced U.S. to become more self-reliant
Explanation:
The 1807 Embargo Act in the short run resulted in very serious negative effects, but in the long run it helped the American economy to be more self-reliant.
Some of the negative effects on the short run include:
-agricultural products' prices and earnings decreased
-shipping-related industries were devastated
-existing markets were wrecked
-unemployment increased
-smuggling was widely endorsed by the public
-prices of domestic shipping increased
-imports and exports decreased
As a very positive effect, specially on the long run, it increased reliance on domestic manufacturing
.
