In an increasing cost industry,an unexpected decrease in demand would lead to ____ costs and a ____ price in the long run?
A) higher; higher.
B) higher; lower.
C) lower; lower.
D) lower; higher.
Correct Answer:
Verified
Q158: If new entry occurs in a perfectly
Q159: Assuming a price was $2.00,how many units
Q160: If price is less than average fixed
Q161: When would you expect economic profits in
Q162: In long run equilibrium,a perfectly competitive firm:
A)
Q164: If the perfectly competitive wiffle ball industry
Q165: If the gadget industry is a constant
Q166: A perfectly competitive firm cannot make economic
Q167: If a perfectly competitive industry is neither
Q168: As exit from a perfectly competitive industry
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