-In Figure 9-13,a movement of long-run equilibrium from point A to point C could be caused by a(n)
A) decrease in supply from S₂ to S₁ in response to economic profits following a decrease in demand from D₂ to D₁
B) increase in short-run supply from S₁ to S₂
C) increase in supply from S₁ to S₂ in response to economic profits following an increase in demand from D₁ to D₂
D) increase in demand from D₁ to D₂ in the short run
Correct Answer:
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Q186: Q187: The long-run supply curve is horizontal in Q188: Q189: In a perfectly competitive market,an increase in Q190: In a perfectly competitive market,a decrease in Q192: The long-run supply curve is downward sloping Q193: Assume that an inferior good is produced Q194: In a constant-cost industry,the long-run market supply Q195: Assume that the producers of an input Q196: The long-run supply curve is upward sloping
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