With identical firms, constant input prices, and all the other characteristics of a competitive market
A) a shift in demand has no effect on the long-run average cost and so there is no change in equilibrium price and quantity.
B) a shift in demand will change the equilibrium price and quantity.
C) a shift in demand has no effect on the long-run average cost, resulting in a change in equilibrium quantity but not price.
D) a shift in demand has no effect on the long-run average cost, resulting in a change in equilibrium price but not quantity.
Correct Answer:
Verified
Q5: Mister Jones was selling his house.The asking
Q33: Mary purchased a stuffed animal toy for
Q58: Producer surplus is equal to
A) the area
Q62: In the long run, firms in a
Q63: Currently, when a consumer purchases a "green"
Q64: Market consumer surplus
A)is the area under the
Q66: If a market is NOT perfectly competitive,
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