In the very short run:
a. new firms may enter an industry.
b. existing firms may change the quantity they are supplying.
c. price and quantity supplied are absolutely fixed.
d. quantity supplied is absolutely fixed.
d
Economics
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Refer to the graph shown. With an effective price ceiling at $3, the quantity supplied:
A. falls from 40 to 20. B. increases from 20 to 40. C. increases from 40 to 70. D. falls from 70 to 40.
Economics
During a boom, the actual rate of unemployment will be
What will be an ideal response?
Economics