Which of the following will cause equilibrium output in a market to increase?
a. A decrease in firms’ variable costs.
b. An outward shift of the demand curve.
c. Entry of more firms into the market.
d. All of the above.
d. All of the above.
Economics
You might also like to view...
If the price elasticity of supply for a good is 0.75, then
A) the percentage change in the quantity supplied is less than the percentage change in price. B) the supply is elastic. C) an increase in the price boosts the quantity supplied by a larger percentage. D) the supply is inelastic so the demand must also be inelastic. E) None of the above answers is correct.
Economics
Define productive efficiency. Does productive efficiency imply allocative efficiency? Explain
What will be an ideal response?
Economics