When Demand Increases in a Perfectly Competitive Market,the Market Price

question 8

Multiple Choice

When demand increases in a perfectly competitive market,the market price:

• A) increases in the short run and falls in the long run.
• B) decreases in the short run and increases in the long run.
• C) increases in the short run and stays permanently higher in the long run.
• D) decreases in the short run and stays permanently lower in the long run.

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