The number of firms in a perfectly competitive market:
A. is fixed in the short run.
B. is fixed in the long run.
C. varies in the short run.
D. is the same at all possible long-run equilibria.
A. is fixed in the short run.
Economics
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Refer to Figure 3-2. A decrease in the price of inputs would be represented by a movement from
A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.
Economics
Which aspect of macroeconomics generates the most controversy?
A) economic growth B) the causes of business cycles C) supply and demand D) competitive equilibrium
Economics