5.4 - Industry Adjustments to Increases in Demand 1. In a/an, industry, an increase in demand will result in a new equilibrium price equal to the original equilibrium price (before demand increased). This results in a long-run supply curve that is_ Lesson 2. In a/an_ industry, an increase in demand will result in a new equilibrium price higher than the original equilibrium price (before demand increased). This results in a long-run supply curve that is_ sloping. 3. In a/an industry, an increase in demand will result in a new equilibrium price lower than the original equilibrium price (before demand increased). This results in a long-run supply curve that is sloping.

5.4 - Industry Adjustments to Increases in Demand 1. In a/an, industry, an increase in demand will result in a new equilibrium price equal to the original equilibrium price (before demand increased). This results in a long-run supply curve that is_ Lesson 2. In a/an_ industry, an increase in demand will result in a new equilibrium price higher than the original equilibrium price (before demand increased). This results in a long-run supply curve that is_ sloping. 3. In a/an industry, an increase in demand will result in a new equilibrium price lower than the original equilibrium price (before demand increased). This results in a long-run supply curve that is sloping.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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