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jugganuts jugganuts
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6 months ago

A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand increases. By the time all adjustments have been made, price will be __________ its original level if the industry is a(n) __________ cost industry.



▸

below; constant



▸

above; increasing



▸

at; decreasing



▸

at; increasing



▸

above; decreasing

Textbook 
Economics

Economics


Edition: 12th
Author:
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mooltipasmooltipas
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6 months ago
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jugganuts Author
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6 months ago
Thanks for your help!!
Liarec
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Yesterday
Just got PERFECT on my quiz
DragonHeart
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2 hours ago
Correct Slight Smile TY
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