Consider a competitive market with a large number of identical firms. the firms in this market do not use any resources that are available only in limited quantities. in this market, an increase in demand will:A. increase price in the short run but not in the long run. B. increase price in the long run but not in the short run. C. increase price both in the short and the long run. D. not affect price in either the short or the long run.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Consider a competitive market with a large number of identical firms. the firms in this market do not use any resources that are available ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Roberto firmly believes that economic and social equality can only be attained through a system of economics where the government controls and owns all elements of economic activity. But Roberto doesn't believe he is a communist.
Answers (1)
If a seller includes an express warranty in the written sales contract, any disclaimer is invalid. a. Trueb. False
Answers (1)
Which of the following should be disclosed in the balance sheet or the notes to the financial statements?
Answers (1)
Pioneer has developed a new consumer electronics item-a heterogeneous shopping product with unique patented features. it probably should use a marketing mix of:
Answers (1)
Excellent Inc. had a per-unit conversion cost of $3.00 during April and incurred direct materials cost of $112,000, direct labor costs of $84,000, and manufacturing overhead costs of $50,400 during the month.
Answers (1)
New Questions in Business
Use the following information to answer the next question. Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or foregone entrepreneurial income to be $5,000 a year.
Answers (1)
What is institutional advertising focused on promoting
Answers (1)
Which of the following is a common form of value engineering in which the design team prepares several possible designs of the product, each having similar features with different levels of performance and different costs? a. Cost analysis. b.
Answers (2)
Outstanding stock of the Blue Corporation included 50000 shares of $5 par common stock and 18000 shares of 5%, $10 par non-cumulative preferred stock. In 2019, Blue declared and paid dividends of $7500.
Answers (1)
Five years ago, Tom loaned his son John $20,000 to start a business. A note was executed with an interest rate of 8%, which is the Federal rate. The note required monthly payments of the interest with the $20,000 due at the end of ten years.
Answers (1)