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

Author Question: As existing firms exit a decreasing-cost industry (Read 74 times)

a0266361136

  • Hero Member
  • *****
  • Posts: 538
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a0266361136 on Apr 19, 2019

Fayaz00962

  • Sr. Member
  • ****
  • Posts: 330
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


a0266361136

  • Member
  • Posts: 538
Reply 2 on: Apr 19, 2019
Thanks for the timely response, appreciate it

mcabuhat

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan A passenger train crosses Stony Creek Bridge in the Rocky Mountains in 1878. Railroads were importan
Nanomaterials Applications and Industry Used Nanomaterials Applications and Industry Used
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Economic objectives of firms Economic objectives of firms
Rapidly decreasing sequence costs have enabled the rapid expansion Rapidly decreasing sequence costs have enabled the rapid expansion
Video: Bone processes - resorption and deposition, remodeling and response to stress in adult bones

For a complete list of videos, visit our video library