A fall in demand for a commodity in a perfectly competitive ...

[joblessjake]

A fall in demand for a commodity in a perfectly competitive market will shift the long-run supply curve to the right.
  Indicate whether the statement is true or false

Question 2

If a profit-maximizing, perfectly competitive firm is making only a normal profit in the short run, then the firm is in:
 a. disequilibrium.
  b. equilibrium where MR exceeds minimum ATC.
  c. equilibrium where MR equals minimum AVC.
  d. equilibrium where P = AFC.
  e. equilibrium where P = ATC

[mistyjohnson]

Answer to Question 1

F

Answer to Question 2

e