The market for maple syrup is perfectly competitive. Suppose that the market is in long-run equilibrium when the market demand for maple syrup increases. In the long run, firms will ________ the market and the market ________ will ________

A) leave; supply; decrease
B) enter; supply; increase
C) leave; demand; decrease
D) enter; supply; decrease

B

Economics

You might also like to view...

Giving poor people food instead of cash for food

A. is an in-kind transfer. B. will benefit some more than others, depending on their utility function. C. is politically popular. D. all of these answer options are correct.

Economics

A genuine progress indicator (GPI) attempts to:

A. adjust GDP so that it reflects more than just the level of economic activity. B. develop a new measure that focuses entirely on noneconomic activity. C. adjust GDP so that it more accurately measures changes in economic activity. D. not incorporate any measure of economic activity.

Economics