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Figure 14-14

Question 196

Multiple Choice

Figure 14-14 Figure 14-14 -Refer to Figure 14-14. If the market starts in equilibrium at point Z in panel (b) , a decrease in demand will ultimately lead to A) more firms in the industry but lower levels of output for each firm. B) fewer firms in the market. C) a new long-run equilibrium at point X in panel (b) . D) lower prices once the new long-run equilibrium is reached. Figure 14-14 -Refer to Figure 14-14. If the market starts in equilibrium at point Z in panel (b) , a decrease in demand will ultimately lead to A) more firms in the industry but lower levels of output for each firm. B) fewer firms in the market. C) a new long-run equilibrium at point X in panel (b) . D) lower prices once the new long-run equilibrium is reached.
-Refer to Figure 14-14. If the market starts in equilibrium at point Z in panel (b) , a decrease in demand will ultimately lead to


A) more firms in the industry but lower levels of output for each firm.
B) fewer firms in the market.
C) a new long-run equilibrium at point X in panel (b) .
D) lower prices once the new long-run equilibrium is reached.

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