When the average total cost curves for firms are unaffected by the entry of other firms,
a. it is an increasing-cost industry
b. it is a decreasing-cost industry
c. the market's equilibrium price will eventually be restored after the market demand increases
d. firms will charge a higher price when demand rises
e. the long-run supply curve is positively sloped
C
Economics
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If an economy is producing a combination of goods that places it on the production possibilities curve, then it has:
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Tobin's q is defined as the market value of firms ________ the replacement cost of capital
A) times B) minus C) plus D) divided by
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