Solved

Figure 8.9 -Refer to Figure 8.9.Suppose the Prevailing Price Is $20 and Is

Question 184

Multiple Choice

Figure 8.9 Figure 8.9 -Refer to Figure 8.9.Suppose the prevailing price is $20 and the firm is currently producing 1350 units.In the long-run equilibrium A) there will be fewer firms in the industry and total industry output decreases. B) there will be more firms in the industry and total industry output increases. C) there will be fewer firms in the industry but total industry output increases. D) there will be more firms in the industry and total industry output remains constant.
-Refer to Figure 8.9.Suppose the prevailing price is $20 and the firm is currently producing 1350 units.In the long-run equilibrium


A) there will be fewer firms in the industry and total industry output decreases.
B) there will be more firms in the industry and total industry output increases.
C) there will be fewer firms in the industry but total industry output increases.
D) there will be more firms in the industry and total industry output remains constant.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q180: The minimum point on the average variable

Q183: Figure 8.11 Figure 8.11 </p></div><svg width=

Q185: In long-run perfectly competitive equilibrium, which of

Q189: Figure 8.13 Figure 8.13 </p></div><svg width=

Q196: In the short run, if a firm

Q206: Under what conditions should a competitive firm

Q209: A perfectly competitive market is in long-run

Q210: Which of the following statements is correct?
A)Economic

Q210: If in a perfectly competitive industry, the

Q212: If, in a perfectly competitive industry, the

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents