In a constant-cost industry, any shift in demand will eventually Select one: O a. be met by a smaller change in supply. O b. result in a higher equilibrium price. make economic profits zero in the short run. O d. be met by an equal change in supply, so equilibrium price will not change.

In a constant-cost industry, any shift in demand will eventually Select one: O a. be met by a smaller change in supply. O b. result in a higher equilibrium price. make economic profits zero in the short run. O d. be met by an equal change in supply, so equilibrium price will not change.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition

Section: Chapter Questions

Problem 6E

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Question

Please please answer both I have no more question I will rate.

In a constant-cost industry, any shift in demand will eventually
Select one:
O a. be met by a smaller change in supply.
O b. result in a higher equilibrium price.
O C. make economic profits zero in the short run.
O d. be met by an equal change in supply, so equilibrium price will not change.

The positively sloped portion of a perfectly competitive firm's marginal cost curve above the intersection
with AVC is that firm's
Select one:
O a. demand curve.
b. economic profit.
O c. accounting profit.
O d. supply curve.

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