Multiple Choice
Consider a firm which is initially in long- run equilibrium and is faced with an increase in the price of a variable input, z. In that case, the:
A) firm will demand more if the input is inferior.
B) input quantity demanded will be reduced more in the long run.
C) firm's demand for that input will shift down.
D) input quantity demanded will be reduced more in the short run.
Correct Answer:
Verified
Correct Answer:
Verified
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