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Retnec Retnec
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6 years ago
Imagine a purely competitive firm and industry in long-run equilibrium. According to the competitive model, if industry demand increased
A) the firms in the industry would tend to earn short-run profits.
B) the firms in the industry would tend to produce more output in the short run.
C) additional firms would tend to enter the industry in the long run.
D) All of the above are true.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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VilaVila
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Retnec Author
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#2
6 years ago
Smiling Face with Halo Nice!!
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