A decrease in the cost of production will shift the supply curve down and to the right.
Answer the following statement true (T) or false (F)
True
Economics
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Comparing the monopoly firm with a perfectly competitive firm reveals that:
a. the competitive firm sells less quantity. b. the monopoly firm charges a lower price. c. the competitive firm's price is above MC. d. None of these is revealed when the two firm are compared.
Economics
The branch of economics that examines the choices of consumers and firms is:
A) positive economics. B) normative economics. C) macroeconomics. D) microeconomics.
Economics