Suppose an Increase in Product Demand Occurs in a Decreasing-Cost

Multiple Choice

Suppose an increase in product demand occurs in a decreasing-cost industry.As a result,

A) the new long-run equilibrium price will be lower than the original long-run equilibrium price.
B) equilibrium quantity will decline.
C) firms will eventually leave the industry.
D) the new long-run equilibrium price will be higher than the original price.