Multiple Choice
In a decreasing-cost industry, an increase in output will lead to
A) an upward shift in the ATC curve.
B) an upward shift in the MC curve.
C) a reduction in long-run per-unit costs.
D) an increase in long-run per-unit costs.
Correct Answer:
Verified
Correct Answer:
Verified
Q116: A perfectly competitive firm faces a market
Q117: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q118: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q119: Perfect competition is a market structure<br>A) in
Q120: The short-run break-even price is the point
Q122: If an industry's long-run supply curve slopes
Q123: An increase in the productivity of labor
Q124: When price and marginal cost are equal
Q125: The perfectly competitive firm faces<br>A) a downward
Q126: Which of the following is TRUE in