i have 33 econ questions

timer Asked: Jul 10th, 2015

Question description

here is question #1-

1. A sudden decrease in the market demand in a competitive industry leads to

a. A market equilibrium price higher than the original equilibrium in the short-run

b. A market equilibrium price equal to the original equilibrium in the long-run

c. Both a and b

d. None of the above

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