Consider an industry that is in long-run equilibrium. An increase in demand leads to no change in the price of the good. We know that this is
A) a decreasing-cost industry.
B) a constant cost industry.
C) an increasing-cost industry.
D) not a competitive industry.
Correct Answer:
Verified
Q363: A decreasing-cost industry will have
A) a perfectly
Q364: Consider an industry that is in long-run
Q365: When a perfectly competitive firm experiences positive
Q366: The long-run industry supply curve in a
Q367: The motive that drives firms to enter
Q369: When a perfectly competitive firm experiences zero
Q370: An increasing-cost industry will have
A) a perfectly
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