Q6. If the market demand for a product increases in a competitive market, then price: A) will increase and quantity will decrease. B) and quantity will increase. C) will decrease and quantity will increase.
Q7. Which of the following is most likely the long-term adjustment in a perfectly competitive industry that is characterized by firms incurring economic losses? A) Some existing firms will exit the market. B) Equilibrium price will decrease. C) The industry supply curve will shift downward and to the right.
Q8. The short-run supply curve for a purely competitive market: A) is a horizontal line. B) slopes downward to the right. C) slopes upward to the right.
Q9. For a perfectly competitive firm in the short-run, what will be the effect of an increase in market demand on equilibrium price and quantity, respectively? A) Decrease; increase. B) Increase; increase. C) Increase; decrease.
Q10. The fact that firms can make more adjustments to production methods in the long run gives the firm: A) a long-run supply curve that is more elastic than its short-run supply curve. B) the ability to quickly adjust output. C) a long-run supply curve that is steeper than its short-run supply curve.
[此贴子已经被作者于2009-1-6 13:50:22编辑过] | 
发表于 2009-1-6 13:37
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