The long-run supply curve under pure competition will be: Downsloping in a decre
ID: 1179605 • Letter: T
Question
The long-run supply curve under pure competition will be:
Downsloping in a decreasing-cost industry and upsloping in an increasing-cost industry
Horizontal in a constant-cost industry and downsloping in an increasing-cost industry
Vertical in a constant-cost industry and upsloping in a decreasing-cost industry
Upsloping in an increasing-cost industry and vertical in a constant-cost industry
7. In the Microsoft antitrust case, a federal court ruled to break up the company on the basis of the:
6. If firms are losing money in a purely competitive industry, then in the long run this situation will shift the industry: Demand curve to the right, and the market price will increaseSupply curve to the left, and the market price will increase
Supply curve to the right, and the market price will decrease
Demand curve to the left, and the market price will decrease
Explanation / Answer
Vertical in a constant-cost industry and upsloping in a decreasing-cost industry
Demand curve to the right, and the market price will increase
firm's market behavior
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