A sudden decrease in the market demand in a competitive industry leads to
a. A market equilibrium price higher than the original equilibrium in the short-run
b. A market equilibrium price equal to the original equilibrium in the long-run
c. Both a and b
d. None of the above
b
Economics
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All of the following are ground rules government can establish to help markets function well except
A) competition. B) honesty. C) information. D) collusion.
Economics
Most favored nation (MFN) status means that a country treats another country
A) better than its other trading partners. B) the same as its other trading partners. C) worse than its other trading partners. D) any way it chooses since it is the "most favored nation." E) None of the above.
Economics