Fri 27 Oct, 2017 09:23 am
My Teacher has me in a group project, and we are all really struggling. Is there anyone out there that can give me a hand with this?
1. Graphically present the step-by-step process of a constant-cost industry and a firm within the industry making long run adjustments to an INCREASE in demand.
2. What happens to....
A. Market Demand Curve?
B. Market price in short run?
C. The firms demand and marginal revenue curve?
D. The firms price and profit?
E. The firms output?
F. The market supply curve as a result of industry losses?
G. The firms demand and marginal revenue curve as a result of the shift in the market supply curve?
H. The firm's price and profit as the supply curve shifts?
I. The fir'ms output following the shift in the market supply curve?
J. The Equilibrium prive after all adjustments have been made?