History, 07.05.2020 03:10 monaec1757
18. A constant-cost, perfectly competitive widget industry is in long-run equilibrium. A decrease in the
price of gadgets, a substitute for widgets, will most likely result in
A. an increase in the demand for widgets, followed by a decrease in the supply of widgets
B. higher short-run and long-run prices for widgets
C. short-run losses for widget producers, followed by the exit of some firms
D. an upward shift in all short-run cost curves, followed by a higher long-run price for widgets
E. a higher short-run price for widgets, followed by an increase in the quantity produced
Answers: 2
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which of the following was anecological result of european exploration from 1400 to 1800? a. increased trade with east asia b. the spread of epidemic diseases c. expansion of english territory d. the spread of christianity
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18. A constant-cost, perfectly competitive widget industry is in long-run equilibrium. A decrease in...
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