Confedertaion college

posted by .

Suppose that a scientific breakthrough leads to the discovery of a new cheap source of energy. What would be the effect of this invention in the short-run and in the long-run?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Economics

    Suppose the price elasticity of demand for heating oil is 0.2 in the short run and 0.7 in the long run. c. If the price of heating oil rises from $1.80 to $2.20 per gallon, what happens to the quantity of heating oil demanded in the …
  2. Microeconomics

    6.) "Since peaking in 1976, per capita beef consumption in the United States has fallen by 28.6 percent... [and] the size of the U.S. cattle herd has shrunk to a 30-year low." a.) Using firm and industry diagrams, show the short-run …
  3. economics

    This is going to be really long, but I want to see if my answers are correct. This is problem number 10.10 in my Intermediate Microeconomics book. A perfectly competitive painted necktie industry has a large number of potential entrants. …
  4. Economics

    Suppose That A Scientific Breakthrough Leads To The Discovery Of A New Cheap Source Of Energy. What Would Be The Effect Of This Invention In The Short-Run And In The Long-Run?
  5. microeconomics

    The short-run cost curve for each firm's long run equilibrium output is C=y^2-20y+400. Calculate the short-run average and marginal cost curves. At what output level does short-run average cost reach a minimum?
  6. Using souces and avoiding plagirism

    Question 13 Which of the following is incorrect?
  7. Economics

    A long-run supply curve is flatter than a short-run supply curve because A. firms can enter and exit a market more easily in the long run than in the short run. B. long-run supply curves are sometimes downward sloping. C. competitive …
  8. micro economics

    1) Assume that the gold-mining industry is competitive. a) Illustrate a long-run equilibrium using diagrams for the gold market and for the a representative gold mine. b) Suppose that an increase in jewellery demand induces a a surge …
  9. Microeconomics

    A perfectly competitive industry has a large number of potential entrants. Each firm has an identical cost structure such that long run average cost is minimized at an output of 10 units (qi=10 ). The minimum average cost is R5 per …
  10. economics

    Hello, I am currently busy writing an essay and run against a wall: If government decreases the corporate tax rate, what would be the short-run and long-run effect on the aggregate supply, aggregate demand and Long-run aggregate supply …

More Similar Questions