A sudden rise in the market demand in a competitive industry leads to
A) A short run market equilibrium price lower than the original equilibrium
B) A market equilibrium lower than the short run price
C) Some firms exiting the market
D) All of the above
Correct Answer:
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Q2: A sudden rise in the market demand
Q3: A sudden fall in the market demand
Q4: In the long-run,a perfectly competitive firm will
Q5: A sudden decrease in the market demand
Q6: A sudden rise in the market demand
Q7: All of these are characteristics of a
Q8: In a competitive industry buffeted by demand
Q9: In a perfectly competitive market industry,firm's prices
Q10: A sudden fall in the market demand
Q11: A sudden fall in the market demand
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