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Author Question: A fall in demand for a commodity in a perfectly competitive market will shift the long-run supply ... (Read 49 times)

joblessjake

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on: Jun 30, 2018
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

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

F

Answer to Question 2

e


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