題目:In long-run equilibrium of a competitive market, the number of firms in the markets adjusts so that all of the market demand is satisfied at a price equal to 答案:minimum average total cost
【題目】: Suppose the price elasticity of demand for tickets of Taiwan High Speed Railway (THSR) is 1.5.Ceteris paribus, when THSR reduces its prices, its revenue 【解答】: will go up.
題目:Raisin bran and milk are complementary goods. A decrease in the price of raisins will 答案:increase consumer surplus in the market for raisin bran and increase producer surplus in the market for milk.
題目:If price exceeds average costs under pure competition, in the long run ,______ firms will enter the industry, supply will ______, and price will be driven ______. 答案:more; increase; down