Refer to the information provided in Figure 9.7 below to answer the question(s) that follow. 
Figure 9.7 Refer to Figure 9.7. Industry demand is initially D1 and industry supply is initially S1 in this increasing cost industry. If demand increases to D2, then in the long run the industry will
A. stay at Point B.
B. move to Point E.
C. move to Point F.
D. move to Point C.
Answer: B
You might also like to view...
The asset demand for money is related to which function of money?
A) standard of deferred payment B) store of value C) medium of exchange D) unit of accounting
Figure 4.3 illustrates the demand for tacos. Assume tacos are an inferior good. An increase in income would bring about a movement from
A) point a to point b. B) point c to point b. C) D2 to D1. D) D0 to D1.
In most economies, resources are allocated by
A) a central planning board. B) a dictator. C) the combined and decentralized actions of millions of people. D) the majority's will.
In the above figure, the best affordable point is
A) 8 hamburgers and 0 magazines. B) 0 hamburgers and 6 magazines. C) 4 hamburgers and 3 magazines. D) some combination that is not given above.