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Author Question: When will the long-run supply curve of a perfectly competitive market shift ... (Read 59 times)

mydiamond

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on: Jun 30, 2018
When will the long-run supply curve of a perfectly competitive market shift upward?

Question 2

If losses are incurred in a competitive industry, then over the long-run we can expect a greater quantity supplied, because market price will rise.
 a. True
  b. False
  Indicate whether the statement is true or false


Tonyam972

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The long-run supply curve of a perfectly competitive market will shift upward if there is an increase in the variable cost.

Answer to Question 2

False


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