Given this change in demand, the representative firm will produce (Click to select)moreless output at a (Click to select)higherlower price.

Long run equilibrium will be restored by (Click to select)demandsupply shifting (Click to select)outin such that, in the long run, market (industry) price will be (Click to select)higher thanthe same aslower than the original level.

At a roundabout, you must yield to a. already in the roundaboutb. entering the roundaboutc. only if their turn signal is ond. only if they honk at you

For 2018, rahal's auto parts estimates bad debt expense at 1% of credit sales. the company reported accounts receivable and an allowance for uncollectible accounts of $86,500 and $2,100, respectively, at december 31, 2017. during 2018, rahal's credit sales and collections were $404,000 and $408,000, respectively, and $2,340 in accounts receivable were written off.rahal's accounts receivable at december 31, 2018, are:

Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.