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Author Question: As existing firms exit a decreasing-cost industry (Read 91 times)

a0266361136

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on: Apr 19, 2019

Question 1

Assume a perfectly competitive industry is in long-run equilibrium at a price of $150. If this industry is an increasing-cost industry and the demand for the product increases, long-run equilibrium will be reestablished at a price


◦ greater than $150.
◦ of $150.
◦ less than $150.
◦ either greater than or less than $150 depending on the magnitude of the decrease in demand.

Question 2

As existing firms exit a decreasing-cost industry


◦ the 
LRAC curve shifts down.
◦ the 
LRAC curve shifts up.
◦ the position of the 
LRAC curve doesn't change, but firms move down their 
LRAC curve.
◦ the position of the 
LRAC curve doesn't change, but firms move up their 
LRAC curve.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by a0266361136 on Apr 19, 2019

Fayaz00962

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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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a0266361136

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

kusterl

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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