Assume a perfectly competitive industry is in long-run equilibrium at a price of $150. If this industry is an increasing-cost industry and the demand for the product increases, long-run equilibrium will be reestablished at a price
A. of $150.
B. less than $150.
C. greater than $150.
D. either greater than or less than $150 depending on the magnitude of the decrease in demand.
Answer: C
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A) store of value. B) medium of exchange. C) barter token. D) unit of account. E) unit of currency.
__________ consumption expenditure is greater than disposable income
a) It is always the case that b) Saving is positive whenever c) Dissaving occurs whenever d) None of the above answers is correct because it is impossible for consumption expenditure to be greater than disposable income
In the market for loanable funds in an open economy, the supply of loanable funds:
A. can come from domestic savers or savers abroad. B. is equal to public savings. C. is equal to private savings. D. is equal to national savings.
The central bank for the euro area tries to achieve accountability and transparency through a:
A. specific target for the dollar euro exchange rate. B. following the monetary policy guidance of the European Parliament. C. standard numerical objective for inflation over the medium term. D. specific target for unemployment and economic growth.