For a constant cost industry in a purely competitive market structure, whenever there is an increase in market demand and price, then the supply curve Group of answer choices Shifts to the right with...

For a constant cost industry in a purely competitive market structure, whenever there is an increase in market demand and price, then the supply curve

Group of answer choices

Shifts to the right with new firms’ entry and stops at the point where the new long-run equilibrium intersects at the same market price as before.

Shifts to the left as some firms leave the market and the market price rises to a new level.

Shifts to the right with new firms’ entry and stops at the point where the new long-run equilibrium intersects at a lower market price.

The supply curve becomes unstable. and firms leave the market because management costs become very high

Jun 10, 2022

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For a constant cost industry in a purely competitive market structure, whenever there is an increase in market demand and price, then the supply curve Group of answer choices Shifts to the right with...

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