If price exceeds average total cost in the short run, then in the long run the market demand curve will shift to the right
a. True
b. False
B
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A decrease in the demand for a good generally implies that:
a. consumers are willing to buy larger quantities of the good at each price. b. the demand curve for the good has shifted to the right. c. consumers are willing to pay a higher price for each unit of the good. d. the demand curve for the good has become steeper. e. the demand curve for the good has shifted to the left.
In the United States, which factor of production earns the largest share of the nation's total income?
What will be an ideal response?
A point on the utility possibility frontier is:
A. inefficient. B. impossible. C. efficient. D. undesirable.
Expansionary monetary policy:
A. decreases the interest rate and increases the price level. B. decreases the interest rate and decreases the price level. C. increases the interest rate and increases the price level. D. increases the interest rate and decreases the price level.