Author Question: How long is the short-run time period in the economic analysis of the market? A) three months or ... (Read 94 times)

Melani1276 · **on:** Jul 1, 2018

How long is the short-run time period in the economic analysis of the market?

A) three months or one business quarter
B) total time in which sellers already in the market respond to changes in demand and equilibrium price
C) total amount of time it takes new sellers to enter the market
D) total amount of time it takes original sellers to leave the market

Question 2

When a firm's MC curve shifts to the right, it implies that

A) new firms are entering the market.
B) labor productivity is decreasing.
C) labor productivity is increasing.
D) the firm's overhead costs are decreasing.