In the long run price is governed by ………….

Related MCQs

• If the price elasticity of demand for wine is estimated to be -.6, then a 20% increase in price of wine will lead to ………………….in quantity demanded of wine at that price
• If the price elasticity of demand of Chicken is +.95. then a 20% increase in price of chicken will lead to in quantity demanded of chicken at that price
• Tea and Coffee are perfect substitute of each other, given the price of Tea and Coffee being `100 and `200 per Kg. a consumer is prepared to buy 3 Kg. of each. If the price of tea remain same and the price of Coffee rises to `400 per kg. the demand for Tea goes to 6 Kg. and that of Coffee falls to 1Kg. The elasticity of substitution between Tea and Coffee is
• What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases?
• The positively sloped part of long run cost curve of a firm is due to
• The negatively sloped part of long run cost curve of a firm is due to
• Long run supply curve of a constant cost industry is
• Long run supply curve of a increasing cost industry is
• Long run supply curve of a decreasing cost industry is
• In economics, in the long run all the cost………….