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stars_and_moon stars_and_moon
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7 years ago
A perfect competition industry is in long run equilibrium.  As a result of an increase in consumers' income, the demand curve for the good shifts out.  After the demand shift, the new long run equilibrium price
A) could be higher, lower, or the same as the original equilibrium price.
B) will be lower than the original equilibrium price.
C) will be higher than the original equilibrium price.
D) will be the same as the original 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
Incredible!
wrote...
#3
7 years ago
Great! Now we can move on to the next one
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