In a constant cost industry, the only long-run effect of an increase in demand is ______.
a. an increase in industry output
b. an increase of input prices
c. a decrease in the number of suppliers
d. an increase in the long-run equilibrium price
a. an increase in industry output
Economics
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The conclusion that international trade will lead to an increase in real earnings of a country's abundant resource is known as:
a. factorintensity reversal. b. the HeckscherOhlin model. c. Riparian comparative advantage. d. the StolperSamuelson theorem.
Economics
Most unemployed persons fall into the category of job loser
Indicate whether the statement is true or false
Economics