A perfectly competitive industry with constant costs initially operates in long-run equilibrium.When demand increases, one will observe that in the long and short runs:
A.positive economic profits will result for all firms.
B.higher prices will result.
C.output will increase.
D.negative economic profits will result for some firms.

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The Answer of A perfectly competitive industry with constant costs initially operates in long-run equilibrium.When demand increases, one will observe that in the long and short runs:
A.positive economic profits will result for all firms.
B.higher prices will result.
C.output will increase.
D.negative economic profits will result for some firms.

A Perfectly Competitive Industry with Constant Costs Initially Operates in Long-Run