Because market price always tends back to the minimum average total cost for all identical firms in a perfectly competitive market in the long run, in theory:
A. the supply will remain a constant quantity.
B. price will be the same at any quantity.
C. the supply curve will be upward sloping.
D. the supply curve may be downward sloping.
B. price will be the same at any quantity.
Economics
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The debt service ratio is the ratio of
(a) external debt to the size of the service sector. (b) external debt to total GNP. (c) internal debt to the size of the service sector. (d) internal debt to total GNP. (e) none of the above.
Economics
If price decreases by 10 percent and quantity demanded increases by 30 percent, the price elasticity of demand will be
A) 0.333. B) 3. C) 30. D) 300.
Economics