Author Question: If the fringe supply curve shifts leftward in the dominant firm model, then the resulting market ... (Read 47 times)

j.rubin · **on:** Jul 1, 2018

If the fringe supply curve shifts leftward in the dominant firm model, then the resulting market equilibrium price is ________ and the dominant firm's quantity ________.

A) lower, decreases
B) lower, increases
C) higher, decreases
D) higher, increases

Question 2

Refer to Scenario 7.3. Suppose that your firm decides to double its output to 400. To achieve this level of output the firm will have to:

A) exactly double its inputs.
B) more than double its inputs.
C) less than double its inputs.