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An industry is in if firms have no incentive to enter or exit in the run.

meganA

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An industry is in ________ if firms have no incentive to enter or exit in the ________ run.

Question 1.

For a perfectly competitive industry, a decline in technology will cause

▸ a movement up the short-run industry supply curve.

▸ a movement down the short-run industry supply curve.

▸ the industry short-run supply curve to shift to the right.

▸ the industry short-run supply curve to shift to the left.

Question 2.

An industry is in ________ if firms have no incentive to enter or exit in the ________ run.

▸ disequilibrium; short

▸ disequilibrium; long

▸ equilibrium; short

▸ equilibrium; long

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 84 times

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Dogggg

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More solutions for this book are available here

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