Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________,
A. Rising; B; C
B. Falling; A; C
C. Falling; A; B
D. Rising; A; C
Answer: D
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As the popularity of the pill spread:
A. the number of younger workers willing to take entry-level jobs collapsed. B. the number of women entering professional degree programs exploded. C. the unemployment rate for women skyrocketed as there were more women competing for the same jobs. D. the number of middle-aged women leaving the labor force
In long-run equilibrium under perfect competition a. price will equal minimum average fixed cost
b. firms will earn economic profits due to the existence of barriers to entry. c. the demand curve facing individual firms will fall to the level tangent to the minimum average total cost curve. d. firms will produce at the level of output where marginal revenue exceeds marginal cost by the greatest dollar amount.