The technological relationships reflected in the firms' long run cost curves are an important factor in determining the market structure of an industry because:
A) they determine the size of the market.
B) they influence the price elasticity of demand for the product.
C) they influence the demand for the product in the short run.
D) they determine the number of firms that can exist in an industry in the long run.
Correct Answer:
Verified
Q94: An important determinant of market structure is:
A)the
Q95: Learning by doing:
A)is synonymous with economies of
Q96: Long-run costs of production are generally lower
Q97: Which of the following changes shift the
Q98: Some firms can attain lower production costs
Q100: When average costs fall as output increases,it
Q101: For the cubic total cost function TC
Q102: Consider the cubic total cost function TC
Q103: Which of the following is true for
Q104: Dine-in restaurants provide two distinct products,food and
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