​A Sudden Rise in the Market Demand in a Competitive

question 47

Multiple Choice

​A sudden rise in the market demand in a competitive industry leads to

• A)​A short run market equilibrium price lower than the original equilibrium
• B)A market equilibrium higher than the short run price
• C)Entry of new firms into the market
• D)​All of the above

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Definitions:

Lifespan

The maximum length of time an organism is expected to live, influenced by genetic and environmental factors.

Parent-Child Relationships

The emotional and social connection between a parent and their child, influencing the child's development and socialization.

Continuity

The unbroken and consistent existence or operation of something over a period of time.

Multiple Generations

The coexistence of different age groups within a society, family, or organization, often leading to diverse perspectives and potential generational differences in values or experiences.