|
Title: Suppose a perfectly competitive firm is in long-run equilibrium and there is a decrease in demand. ... Post by: hiusy98 on Jan 23, 2017 Suppose a perfectly competitive firm is in long-run equilibrium and there is a decrease in demand. Suppose also that the firm operates in an industry in which the prices of productive inputs vary with the level of output, increasing when output increases and decreasing when output decreases. Which of the following will occur at the new long-run equilibrium?
A) Price will be lower than it was at the initial long-run equilibrium. B) Price will be the same as it was at the initial long-run equilibrium. C) Price will be higher than it was at the initial long-run equilibrium. D) The industry supply function will shift to the right. Title: Re: Suppose a perfectly competitive firm is in long-run equilibrium and there is a decrease in ... Post by: andyborzi on Jan 23, 2017 Content hidden
Title: Re: Suppose a perfectly competitive firm is in long-run equilibrium and there is a decrease in demand. ... Post by: hiusy98 on Mar 27, 2017 Needed these to complete my project
|