Answer to Question #107255 in Microeconomics for Teekay

Question #107255
If a monopolistically competitive industry is in long-run equilibrium and suddenly the cost of resources increases, then:

Select one:
a.
some firms will eventually leave the industry.

b.
new firms will eventually enter the industry.

c.
the demand and average-revenue curves will shift to the left.

d.
the cost structure of the firm will shift down.

e.
the demand and average-revenue curves will shift to the right.
1
Expert's answer
2020-04-02T09:35:50-0400

a. some firms will eventually leave the industry


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS