How will the industry supply curve shift in a perfectly competitivr market if average revenue is less down long run average cost?Question 5Answera.leftwardb.none of the optionsc.no changed.rightward

In the long run in a competitive industry, if demand increases and the industry is a decreasing-cost industry, then the industry supply curve is

Consider a constant cost industry that is perfectly competitive and in which the demand curve is downward sloping. Further, starting from a long-run equilibrium, firms experience an improvement in technology that lowers the marginal cost and average total cost to the same extent. In the long run, we expect:  [Tick all that apply]

A decrease in the costs of production causes the shift in the supply curve to the right.Select one:True

Consider a perfectly competitive market with identical firms and a downward-sloping market demand curve. Assume that the market is initially in a long-run (and short-run) equilibrium. Suppose the variable costs of production increase, which shifts up the marginal cost and average total cost curves to the same extent. In the long run, we would expect the price to _________ and the number of firms in the market to ___________.Group of answer choicesincrease; decreaseincrease; increasedecrease; decreasedecrease; increaseNone of the above

Question 4 (1 point)In the short run, a decrease in production costs of a product will shift aboth the demand curve and the supply curve to the right bthe demand curve to the left and the supply curve to the right conly the supply curve to the right donly the supply curve to the left eonly the demand curve to the left