In a perfectly competitive market that is in long- run equilibrium, a rightward shift in the market demand curve results in
A) firms leaving the industry in the long run.
B) the firms' economic profits falling in the short run.
C) the price falling in the short run.
D) None of the events listed above.
Correct Answer:
Verified
Q132: Congestion of airports and airspace causes the
Q133: A perfectly competitive firm is initially earning
Q134: The difference between a firm's total revenue
Q135: When a firm is considered to be
Q136: In the short run, an increase in
Q138: An example of a perfectly competitive firm
Q139: Tammy sells woollen hats in a perfectly
Q140: If firms in a competitive market are
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents