This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assume a perfectly competitive industry is in long-run equilibrium at a price of $75. If this ... (Read 99 times)

wrbasek0

  • Hero Member
  • *****
  • Posts: 560
on: Apr 19, 2019

Question 1

Assume the watermelon industry is perfectly competitive and in long-run equilibrium with a market price of $10. If the demand for watermelons increases in this decreasing-cost industry, long-run equilibrium will be reestablished at a price


◦ greater than $10.
◦ less than $10.
◦ equal to $10.
◦ either greater than or less than $10, depending on the number of firms that enter the industry.

Question 2

Assume a perfectly competitive industry is in long-run equilibrium at a price of $75. If this industry is a constant-cost industry and the demand for the product decreases, long-run equilibrium will be reestablished at a price


◦ greater than $75.
◦ less than $75.
◦ of $75.
◦ either greater than or less than $75 depending on the magnitude of the decrease in demand.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by wrbasek0 on Apr 19, 2019

k2629

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


wrbasek0

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Apr 19, 2019
Excellent


k2629

  • Sr. Member
  • ****
  • Posts: 357
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

A herd of barren-ground caribou at the Thelon River. This subspecies is a long-distance migrant A herd of barren-ground caribou at the Thelon River. This subspecies is a long-distance migrant
Kyoto Protocol encourages industry to innovate and reduce the level of emissions Kyoto Protocol encourages industry to innovate and reduce the level of emissions
Three Pieces of the Long-Term Weight-Loss Puzzle Diet Three Pieces of the Long-Term Weight-Loss Puzzle Diet
Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition Strategic Management and Competitive Advantage: Concepts and Cases, 6th Edition
These findings are from Colby and Kohlberg's long-term longitudinal study These findings are from Colby and Kohlberg's long-term longitudinal study
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Chromosome structural organization/ Mechanisms for chromosome movement Animation

For a complete list of videos, visit our video library