If the Long-Run Market Supply Curve Is Perfectly Elastic, a Fall

question 58

Multiple Choice

If the long-run market supply curve is perfectly elastic, a fall in demand will cause the final equilibrium to be at:

• A) the same price but a lower output.
• B) a lower price and a lower output.
• C) a lower price but the same output.
• D) the same price and the same output.

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Definitions:

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