If firms in a competitive price-searcher market are earning economic profits, which of the following scenarios would best describe the change existing firms would face as the market adjusts to long-run equilibrium?
a. An increase in demand for each firm and lower prices.
b. A decrease in demand for each firm and lower prices.
c. An increase in demand for each firm and higher prices.
d. A decrease in demand for each firm and higher prices.
B
Economics
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A) exchange rate union B) currency cartel associations C) free-trade zones D) most-favored nation status E) agreement on commercial trade
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It has been argued that state-subsidized ____ programs have benefited the poor more than middle and upper-income quintiles
a. Medicaid b. higher education c. art museum d. airport and airline subsidy
Economics