【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 sunk cost maximum marginal cost minimum average variable cost minimum average total cost
【題目】 If the market price is higher than the equilibrium price. a surplus exists and the equilibrium price will rise until it equals the market price and the surplus is eliminated. a surplus exists and the market price will fall until it equals the equilibrium price and the surplus is eliminated. a shortage exists and the market price will fall until it equals the equilibrium price and the shortage is eliminated. a shortage exists and the equilibrium price will rise until it equals the market price and the shortage is eliminated.
【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 sunk cost minimum average variable cost minimum average total cost ------答案 maximum marginal cost
【題目】 Raisin bran and milk are complementary goods. A decrease in the price of raisins will decrease consumer surplus in the market for raisin bran and increase producer surplus in the market for milk. decrease consumer surplus in the market for raisin bran and decrease producer surplus in the market for milk. increase consumer surplus in the market for raisin bran and increase producer surplus in the market for milk. increase consumer surplus in the market for raisin bran and decrease producer surplus in the market for milk. increase consumer surplus in the market for raisin bran and increase producer surplus in the market for milk