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A perfectly competitive, increasing-cost industry is initially in long-run equilibrium. If a permanent increase in demand occurs, then at the new...

A perfectly competitive, increasing-cost industry is initially in long-run equilibrium. If a permanent increase in demand occurs, then at the new long-run equilibrium, _____.​

a.​price will be the same and total output will be greater than beforeb.​price will be lower and total output will be greater than beforec.​price will be lower and therefore total output will be smaller than befored.​price will be higher and therefore total output will be smaller than beforee.​price will be higher and total output will be greater than before

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