|
Title: Suppose that each of 8,000 firms in a perfectly competitive industry produces 1,000 units of a good Post by: Loraine on Jun 21, 2015 Suppose that each of 8,000 firms in a perfectly competitive industry produces 1,000 units of a good and maximizes profits when the price of the good is $10. If there is a permanent increase in demand, in the short run each firm produces ________ 1,000 units and in the long run the number of firms is ________ 8,000.
A) more than; more than B) less than; more than C) less than; less than D) more than; less than E) exactly; more than Title: Re: Suppose that each of 8,000 firms in a perfectly competitive industry produces 1,000 units of a g Post by: Smoooth on Jul 27, 2015 Content hidden
Title: Re: Suppose that each of 8,000 firms in a perfectly competitive industry produces 1,000 units of a good Post by: Smoooth on Aug 31, 2015 No problemo :-]
|