In the very short run
A) new firms may enter the industry.
B) existing firms may change the quantity they are supplying.
C) price and quantity supplied is absolutely fixed.
D) quantity supplied is absolutely fixed.
Correct Answer:
Verified
Q10: The short-run market supply curve is
A)the horizontal
Q11: A demand curve will shift out for
Q12: Suppose domestic beef producers face demand of
Q13: Suppose a chemical company is in
Q14: Positive economic profits exist for a firm
Q16: Firms in long-run equilibrium in a perfectly
Q17: For an increasing cost industry,the long-run supply
Q18: In the short run
A)new firms may enter
Q19: In the short run,an increase in market
Q20: Long-run elasticity of supply is defined as
A)percentage
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