In Figure 9-13, assume the initial equilibrium at point A is disturbed by an increase in demand. If long-run equilibrium is established at point C, this is a(n)
a.
constant cost industry
b.
increasing-cost industry
c.
decreasing-cost industry
a
Economics
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An increase in which of the following factors can lead to sustained growth of a nation in the Solow model?
A) Physical capital B) Technology C) Human capital D) Savings rate
Economics
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.
Economics