This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assume a perfectly competitive industry is in long-run equilibrium at a price of $75. If this ... (Read 102 times)

wrbasek0

  • Hero Member
  • *****
  • Posts: 560
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by wrbasek0 on Apr 19, 2019

k2629

  • Sr. Member
  • ****
  • Posts: 357
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.
Answer Preview
Only 25% of students answer this correctly


wrbasek0

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Apr 19, 2019
Excellent


k2629

  • Sr. Member
  • ****
  • Posts: 357
Reply #3 on: Apr 19, 2019
Great! Please up vote :D


« previous next »
 

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Gross Anatomy of a Long Bone Gross Anatomy of a Long Bone
In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
Three Pieces of the Long-Term Weight-Loss Puzzle Diet Three Pieces of the Long-Term Weight-Loss Puzzle Diet
Long division for polynomials Long division for polynomials
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: Non-polar compounds - insolubility

For a complete list of videos, visit our video library