Q1. In the long-run, after all firms in a perfectly competitive industry have adopted new technology, the: A) individual firm supply will increase as demand decreases. B) price will be set where average variable cost is equal to marginal revenue. C) price will equal minimum average total cost.
Q2. Which of the following is the most likely result of a technological improvement in a perfectly competitive industry? A) The costs for individual firms increase. B) The industry supply curve shifts to the right. C) Individual firms’ supply curves shift to the left.
Q3. If the market demand for a product increases in a competitive market, then in the short run the quantity supplied by an individual firm will: A) decrease and the firm will generate economic profits. B) increase and the firm will generate economic losses. C) increase and the firm will generate economic profits.
[此贴子已经被作者于2009-1-6 13:52:23编辑过] | 
发表于 2009-1-6 13:40
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