If the demand increases for the product of an increasing-cost industry:
A) short-run price goes up, but long-run price falls.
B) long-run output goes up, but long-run price may go up or down.
C) short-run output goes up, but long-run output may go up or down.
D) long-run output goes up, but short-run price remains constant.
E) short-run price goes up, and long-run price goes up.
Correct Answer:
Verified
Q19: In the model of perfect competition,there are:
A)
Q20: In a competitive market the equilibrium price
Q21: If a representative firm with long-run total
Q22: If a representative firm with long-run total
Q23: Producer surplus is defined as:
A) the difference
Q25: If a representative firm with long-run total
Q26: A constant-cost industry is one in which:
A)
Q27: The following diagram represents the market for
Q28: If a representative firm with long-run total
Q29: The long-run supply curve for a product
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