Refer to Figure 12-13. Suppose the prevailing price is P1 and the firm is currently producing its loss-minimizing quantity. In the long-run equilibrium
A) there will be fewer firms in the industry and total industry output decreases.
B) there will be more firms in the industry and total industry output remains constant.
C) there will be fewer firms in the industry but total industry output increases.
D) there will be more firms in the industry and total industry output increases.
A
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In long-term job attachments, a worker's wage:
a. always exceeds his productivity. b. always falls below his productivity. c. is lower than his productivity at the beginning, then equals it, and then exceeds the same. d. is higher than his productivity at the beginning, then equals it, and then falls below the same.
All of the following are examples of product-specific services except which one?
A) displaying a product B) offering the lowest price for the product C) demonstrating a product D) providing information about the product