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

Author Question: Suppose a perfectly competitive industry is in long-run equilibrium. A new one-time cost-saving ... (Read 146 times)

lingual

  • Full Member
  • ***
  • Posts: 145
on: Oct 12, 2022
Suppose a perfectly competitive industry is in long-run equilibrium. A new one-time cost-saving technology (which is freely available) is then developed and new plants are built. Eventually, a new long-run equilibrium will be established where
◦ all plants continue to operate until they are physically worn out as long as price is greater than the firm's average variable cost.
◦ all plants use the new technology, and market output will be higher and price will be lower.
◦ high-cost and low-cost firms exist side by side and market output will be higher.
◦ the industry supply curve has shifted to the left and price and output are both higher.
◦ new plants employ the new technology, but existing plants continue to produce as long as they cover their fixed costs.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by lingual on Oct 12, 2022

H.cope00

  • Full Member
  • ***
  • Posts: 172
Reply #1 on: Oct 12, 2022
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 50% of students answer this correctly


lingual

  • Member
  • Posts: 145
Reply 2 on: Oct 12, 2022
Wow, this really help

rleezy04

  • Member
  • Posts: 322
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Role of PKM-zeta in Long-Lasting Long-Term Potentiation Role of PKM-zeta in Long-Lasting Long-Term Potentiation
In early capitalism, children worked alongside adults. At that time, just as today, most street ... In early capitalism, children worked alongside adults. At that time, just as today, most street ...
Time course of HIV infection. Time course of HIV infection.
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Long bone formation Long bone formation
Video: Exercise and cardiac output & Definition of stroke volume

For a complete list of videos, visit our video library