An increase in output in a perfectly competitive and constant cost industry which is in longrun equilibrium will come
A) entirely from new firms
B) entirely from existing firms
C) either entirely from new firms or entirely from existing firms
D) partly from new firms and partly from existing firms.
Correct Answer:
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Q1: When the perfectly competitive firm and industry
Q2: When the perfectly competitive firm but not
Q4: If factor prices and factor quantities move
Q5: When the D curve is elastic, MR
Q6: If P = Rs.10 at the point
Q7: The best, or optimum, level of output
Q8: At the best, or optimum, level of
Q9: If the monopolist incurs losses in the
Q10: The imposition of a maximum price at
Q11: Price discrimination is an essential feature of
A)Perfect
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