[Answer] Refer to Figure 23.4 for a perfectly competitive market and firm. Which of the following is likely to occur in the market in the long run ceteris paribus?

Answer: A decrease in demand.A decrease in supply.
Refer to Figure 23.4 for a perfectly competitive market and firm. Which of the following is likely to occur in the market in the long run ceteris paribus?

The tendency of the rate of profit to fall (TRPF) is a hypothesis in economics and political economy most famously expounded by Karl Marx in chapter 13 of Capital Volume III. Economists as diverse as Adam Smith John Stuart Mill David Ricardo and Stanley Jevons referred explicitly to the TRPF as an empirical phenomenon that demanded further theoretical explanation yet they each differed as …

Economics (/ ˌ iː k ə ˈ n ɒ m ɪ k s ˌ ɛ k ə-/) is the social science that studies how people interact with value; in particular the production distribution and consumption of …

Concur with 331dot and suggest this be closed. Being in ITN/R list means that an event is determined as worthy of posting ceteris paribus . So it may or may not be posted at the time it is due depending on consensus r…

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