According to the above figure, what will the price level be in the new long-run equilibrium?
A. 110
B. Less than 100
C. 100
D. 115
Answer: D
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In 2007, which U.S. firm showed the first indication of significant problems in the financial sector?
a. AIG b. Bear Stearns c. J.P. Morgan Chase d. Lehman Brothers
The short-run aggregate supply (SRAS) curve shows the inverse relationship between the price level and the quantity of aggregate output supplied in the short run, other things constant
Indicate whether the statement is true or false
Explicit costs:
A. are variable in the short run. B. are fixed in the short run. C. measure the opportunity costs of the resources supplied by the firm's owners. D. measure the payments made to the firm's factors of production.
For a natural monopoly, long-run average costs
A) fall as output increases. B) rise as output increases. C) fall as output falls. D) rise as output falls.