FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If there is an increase in market demand in a perfectly competitive market, then in the short run a. there will be no change in

If there is an increase in market demand in a perfectly competitive market, then in the short run a. there will be no change in the demand curves faced by individual firms in the market. b. the demand curves for firms will shift downward. c. the demand curves for firms will become more elastic. d. profits will rise.

Step by Step Solution

★★★★★

3.32 Rating (152 Votes )

There are 3 Steps involved in it

Step: 1

Ans Option d profits will rise Explanation perfect competition is a type of market where t... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial economics

Managerial economics

Authors: william f. samuelson stephen g. marks

7th edition

9781118214183, 1118041585, 1118214188, 978-1118041581

More Books

Students also viewed these Economics questions

Question

★★★★★
There is an increase in availability of alternative fuels through research and development. Which of the following correctly captures the effect of this change on the market for gasoline? A. Both...

Answered: 1 week ago

Question

★★★★★
If there is an increase in accounts receivable from one accounting period to the next, what affect would this have on the cash flow activities?

Answered: 1 week ago

Question

★★★★★
If there is an increase in th demand for U.S. automobiles, the A. demand for dollars will fall B. Supply of dollars will fall C. Demand for dollars will rise D. supply of dollars will rise

Answered: 1 week ago

Question

★★★★★
How do complementary assets and social complexity influence a firm's organization?

Answered: 1 week ago

Question

★★★★★
Use the balance sheet and following income statement to construct a statement of cash flows for Clancys Dog BiscuitCorporation. Clancy's Dog Biscuit Corporation Balance Sheet as of December 31,2015...

Answered: 1 week ago

Question

★★★★★
Find the indicated term in each expansion in Problems 27 - 32. 28. (x - 3)20; 3rd term 30. (p + q)15 ; 13th term 32. (2x + y)12 ; 3rd term

Answered: 1 week ago

Question

★★★★★
=+d) Interpret the coefficient of the dummy variable named Q3.

Answered: 1 week ago

Question

★★★★★
The unadjusted trial balance of Frank Investment Advisers at December 31, 2016, follows: Adjustment data at December 31, 2016: a. Unearned Revenue earned during the year, $ 100. b. Office Supplies on...

Answered: 1 week ago

Question

★★★★★
Helena Company manufactures and sells two products. Relevant per unit data concerning each product follow. Selling price Variable costs Machine hours Product Basic Deluxe $45.00 $51.00 $29.40 $27.90...

Answered: 1 week ago

Question

★★★★★
Page 1: - I | A - I 1 Question 1 (1 point) Listen You have been assigned to a project to develop a new marketing campaign for a new soft drink. You are reviewing the network diagram and need to...

Answered: 1 week ago

Question

★★★★★
Which of the following is not true about purchase accounting? For financial reporting purposes, all M&As must be recorded using the purchase method of accounting. Under the purchase method of...

Answered: 1 week ago

Question

★★★★★
Reynold's division is migrating to a new collaboration site. To successfully implement the change, he must ensure that his team's files are migrated properly, and that his team is properly trained on...

Answered: 1 week ago

Question

★★★★★
60. Marlon, married on June 5, 2016 died on April 29, 2018 with the following data: Gross estate conjugal, P3,000,000; exclusive, P2,000,000. Said amount includes a land which he received as wedding...

Answered: 1 week ago

Question

★★★★★
You bought one of BB Co.'s 10% coupon bonds one year ago for $1100. These bonds make annual payments, have a face value of $1000 each, and mature seven years from now. Suppose you decide to sell your...

Answered: 1 week ago

Question

★★★★★
Each of the following secondary authorities specifically discusses an intoxicated party's ability to form a contract. Retrieve and review each source by typing or copying the citation into the search...

Answered: 1 week ago

Question

★★★★★
On July 1, 20x0, Ran County issued realty tax assessments for its fiscal year ended June 30, 20x1. On September 1, 20x0, Day Co. purchased a warehouse in Ran County. The purchase price was reduced by...

Answered: 1 week ago

Question

★★★★★
Q 1 9 . A company is expected to pay a dividend of $ 2 next year and Then increase its dividend by 2 0 % per year for the next three years. After that, the company plans to lower its dividund growth...

Answered: 1 week ago

Question

★★★★★
Prairie Outfitters, Inc., a retailer, accepts paymnent through credit cards. During August, credit card sales amounted to $12,000. The processor charges a 3% fee. Assuming that the credit card...

Answered: 1 week ago

Question

★★★★★
It is time to buy a new car, and you have done a considerable amount of research on the matter over the past weeks. From consumer magazines and various online sources, you have reviewed an impressive...

Answered: 1 week ago

Question

★★★★★
A company produces two main products: electronic control devices and specialty microchips. The average total cost of producing a microchip is $300; the firm then sells the chips to other high-tech...

Answered: 1 week ago

Question

★★★★★
a. A commonly used benefit-cost rule is to undertake a program if and only if its ratio of benefits to cost (both in present-value terms) is greater than 1 (B/C > 1). Does this rule make sense? b. A...

Answered: 1 week ago

Question

★★★★★
Given the following null and alternative hypotheses H0: p1 p2 0.0 HA: p1 p2 0.0 and the following sample information Sample 1 Sample 2 n1 60 n2 80 x1 30 x2 24 a. Based on a 0.02 and the...

Answered: 1 week ago

Question

★★★★★
The following dependent samples were randomly selected. Use the sample data to construct a 95% confidence interval estimate for the population mean paired difference. Sample 1 Sample 2 Sample 1...

Answered: 1 week ago

Question

★★★★★
The following samples are observations taken from the same elements at two different times: Unit Sample 1 Sample 2 1 15.1 4.8 2 12.3 5.7 3 14.9 6.2 4 17.5 9.4 5 18.1 2.3 6 18.4 4.7 a. Assume that the...

Answered: 1 week ago

Previous Question Next Question