Long-Run Adjustments, Since longer time periods are considered and a bigger range of

Long-Run Adjustments

Since longer time periods are considered and a bigger range of adjustments (or substitutions) become accessible, demand curves tend to become: (i) Flatter, whereas supply curves become steeper. (ii) Steeper whereas supply curves become flatter. (iii) Flatter, and therefore do supply curves. (iv) Steeper, and thus do supply curves.

Find out the right answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Define autonomous investment Autonomous

Autonomous investment: Investment that is made up without depending on the gain of the enterprise.

Q : Consumer Surplus-Difference in amounts

Kiley pays $1.00 for the cold Pepsi on a hot afternoon, however would be willing to pay $5.00. The $4.00 difference in such amounts is her: (i) Consumer surplus. (ii) Income effect. (iii) Economic gain. (iv) Marginal utility. (v) Pleasure coefficient.

Q : Charge price similar to marginal cost

When a profit-maximizing monopolist who does not price discriminate charges a price equal to its marginal cost, this will: (w) minimize average cost and generate zero economic profit. (x) minimize average cost and gen

Q : Why indifference curve is convex Why

Why the indifference curve is convex to origin?

Q : Accepting prevailing market price by

Unlike firms along with substantial market power, price takers: (w) control the prices of purchases or sales, but not their quality. (x) have no choice but to accept the prevailing market price. (y) adjust output and price to maximize profit. (z) are

Q : Price fluctuations to go bankrupt in

Speculators are most probable to go bankrupt when their activities: (w) increase price fluctuations. (x) decrease transaction costs to other buyers or sellers. (y) dampen the volatility of prices. (z) improve economic efficiency.

Q : Effect of higher price for normal good

Let consider the law of demand. The idea that the higher price for a normal good will outcome in less of good being purchased never based logically on the: (1) Income effect, by which the higher price decreases the purchasing power of the income. (2) Demand for good f

Discover Q & A

Leading Solution Library

Avail More Than 1456053 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1959101
Asked

3,689

Active Tutors

1456053

Questions
Answered

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

Submit Assignment