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Author Question: Assume a perfectly competitive industry is in long-run equilibrium at a price of $75. If this ... (Read 70 times)

wrbasek0

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on: Apr 19, 2019

Question 1

Assume the watermelon industry is perfectly competitive and in long-run equilibrium with a market price of $10. If the demand for watermelons increases in this decreasing-cost industry, long-run equilibrium will be reestablished at a price


◦ greater than $10.
◦ less than $10.
◦ equal to $10.
◦ either greater than or less than $10, depending on the number of firms that enter the industry.

Question 2

Assume a perfectly competitive industry is in long-run equilibrium at a price of $75. If this industry is a constant-cost industry and the demand for the product decreases, long-run equilibrium will be reestablished at a price


◦ greater than $75.
◦ less than $75.
◦ of $75.
◦ either greater than or less than $75 depending on the magnitude of the decrease in demand.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by wrbasek0 on Apr 19, 2019

k2629

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Reply #1 on: Apr 19, 2019
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.
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wrbasek0

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Reply #2 on: Apr 19, 2019
Excellent


k2629

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Reply #3 on: Apr 19, 2019
Great! Please up vote :D


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