Refer to the graphs below for a purely competitive market in the short run. The graphs suggest that in the long run, assuming no changes in the given information, the market:
A. Supply curve will shift to the left
B. Supply curve will shift to the right
C. Demand curve will shift to the left
D. Demand curve will shift to the right
B. Supply curve will shift to the right
Economics
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A firm suffers an economic loss whenever
a. price exceeds average total cost b. price is less than average total cost c. total revenue exceeds variable cost d. marginal cost is greater than marginal revenue e. marginal cost exceeds average cost
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Even a bank in good financial health can fail if there is a run on the bank
a. True b. False
Economics