This topic contains a solution. Click here to go to the answer

Author Question: Assume a perfectly competitive industry is in long-run equilibrium at a price of $30. If this ... (Read 129 times)

krzymel

  • Hero Member
  • *****
  • Posts: 548

Question 1

Assume a perfectly competitive industry is in long-run equilibrium at a price of $20. 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 $20.
◦ less than $20.
◦ of $20.
◦ either greater than or less than $20 depending on the magnitude of the decrease in demand.

Question 2

Assume a perfectly competitive industry is in long-run equilibrium at a price of $30. If this industry is an increasing-cost industry and the demand for the product increases, long-run equilibrium will be reestablished at a price


◦ greater than $30.
◦ of $30.
◦ less than $30.
◦ either greater than or less than $30 depending on the magnitude of the decrease in demand.


Related Topics

Need homework help now?

Ask unlimited questions for free

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

deja

  • Sr. Member
  • ****
  • Posts: 332
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




krzymel

  • Member
  • Posts: 548
Reply 2 on: Apr 19, 2019
:D TYSM


miss.ashley

  • Member
  • Posts: 371
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

For a complete list of videos, visit our video library