题目内容

A competitive market is in long-run equilibrium. If demand decreases, we can be certain that price will

A. fall in the short run. All firms will shut down, and some of them will exit the industry. Price will then rise to reach the new long-run equilibrium.
B. fall in the short run. No firms will shut down, but some of them will exit the industry. Price will then rise to reach the new long-run equilibrium.
C. fall in the short run. All, some, or no firms will shut down, and some of them will exit the industry. Price will then rise to reach the new long-run equilibrium.
D. not fall in the short run because firms will exit to maintain the price.

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更多问题

When some resources used in production are only available in limited quantities, it is likely that the long-run supply curve in a competitive market is

A. downward sloping.
B. upward sloping.
C. horizontal.
D. vertical.

For a firm operating in a perfectly competitive industry, total revenue, marginal revenue, and average revenue are all equal.

A. 对
B. 错

When an individual firm in a competitive market increases its production, it is likely that the market price will fall.

A. 对
B. 错

Firms in a competitive market are said to be price takers because there are many sellers in the market, and the goods offered by the firms are very similar if not identical.

A. 对
B. 错