Multiple Choice
A decrease in production costs for firms in a perfectly competitive market will cause a(n) :
A) permanent increase in price.
B) economic profit for firms in the short run.
C) increase in demand.
D) increase in firms' marginal revenue.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q203: Use the following to answer question(s): <br>Exhibit:
Q204: A firm's total output times the price
Q205: Use the following to answer question(s): <br>Exhibit:
Q207: In the long run, provided that there
Q209: Charges that are paid for factors of
Q210: A perfectly competitive firm will earn a
Q211: The competitive model assumes all of the
Q212: When economic profits in an industry are
Q213: Economic profits in a perfectly competitive industry
Q351: Provided that there are no external benefits