Determine short-run supply curve

When curve C reflects the long run supply curve for this industry as in illustrated figure, in that case the short-run supply curve would be: (i) curve A. (ii) curve B. (iii) curve C. (iv) curve D. (v) curve E.

1149_purely competitive industry.png

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Microeconomics

Q : Compute rate of return on interest rate

When the rate of return you compute onto an asset exceeds the interest rate: (w) its present value exceeds its price. (x) the market is within long term equilibrium. (y) you should avoid buying the asset. (z) the price must fall quick

Q : Law of Diminishing marginal utility

Describe the Law of Diminishing marginal utility? Answer: Law of Diminishing marginal utility: As a consumer goes on consuming more and more units of a commodity th

Q : Price of elastic demand for raises

When decreasing ticket prices for Usher concerts raises total revenues, in that case the demand for tickets for Usher concerts: (1) perfectly price elastic. (2) relatively price elastic. (3) unitarily price elastic. (4) relatively pri

Q : Changing in marginal cost without price

When this firm's marginal cost curve moved upward from MC2 to MC3, the firm would: (w) reduce output from Q3 to Q2 and increase price from P3 to P4. (x) reduce output by Q2 t

Q : Typical production possibilities curve

Evaluate which one is not correct? A typical production possibilities curve: A) indicates how much of two products a society can produce. B) reveals how much each additional unit of one product will cost in terms of the other product. C) specifies how much of each pro

Q : Fixed input in short run I have a

I have a problem in economics on fixed input in short run. Please help me in the following question. Which of the given below is most likely to be the fixed input in short run for General Motors? (i) An assembly line worker. (ii) Paint for cars. (iii)

Q : Long-run competitive pressures in

When economic losses are widespread within a purely competitive industry, in that case long-run competitive pressures tend to cause: (i) accelerating economic losses. (ii) prices to fall while firms leave the industry. (iii) productio

Q : Illustration of Substitution Effect

Sally is very rich that money hardly matters to her, although when the price of JIF chunky peanut butter doubled Sally switched to Peter Pan chunky peanut butter. This alters is an example of the: (1) Income effect. (2) Payback effect. (3) Substitution effect. (4) Pri

Q : Labor union monopoly I have a problem

I have a problem in economics on Labor union monopoly. Please help me in the following question. As compared to pure competition, beneath a pure labor union monopoly, the wage will tend to: (1) Higher and employment will also be higher. (2) Lower and

Q : Corporations account problem I have a

I have a problem in economics on Corporations account problem. Please help me in the following question. The Corporations account for roughly ______ of U.S. business revenues. (i) 1/4. (ii) 1/2. (iii) 1/6. (iv) 5/6. (e) All the above.

Discover Q & A

Leading Solution Library

Avail More Than 1429259 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1952270
Asked

3,689

Active Tutors

1429259

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment