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stars_and_moon stars_and_moon
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7 years ago
If a perfect competition industry is increasing cost, then if the demand curve shifts out, the new long-run equilibrium price
A) will be the same as the original long-run equilibrium price.
B) will be higher than the original long-run equilibrium price.
C) will be lower than the original long-run equilibrium price.
D) could increase or decrease compared to the original long-run equilibrium price.
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kingbykingby
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#1
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7 years ago
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#2
7 years ago
I compared your answer with a buddy, and it matches

Thanks
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#3
7 years ago
I instantly knew the answer when I read the question, happy to help
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