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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 21
The ability of firms to enter and exit a market over time means that, in the long run,
A) the demand curve is more elastic.
B) the demand curve is less elastic.
C) the supply curve is more elastic.
D) the supply curve is less elastic.
A) the demand curve is more elastic.
B) the demand curve is less elastic.
C) the supply curve is more elastic.
D) the supply curve is less elastic.
Explanation
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If the firms can easily enter and exit f...
Essentials of Economics 7th Edition by Gregory Mankiw
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