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Assume a constant-cost industry in a competitive market. What are the long-term effects of the following...

Assume a constant-cost industry in a competitive market. What are the long-term effects of the following change? An increase in the demand for the good will ______________ the equilibrium price and ______________ equilibrium quantity in the goods' market.

a) Increase; increase

b)Increase; decrease

c)Decrease; not change

d)Not change; increase

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Assume a constant-cost industry in a competitive market. What are the long-term effects of the following change? An increase in the demand for the good will not change the equilibrium price and Increase equilibrium quantity in the goods' market.

The correct option is D. not change ; Increase

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Assume a constant-cost industry in a competitive market. What are the long-term effects of the following change? An increase in the demand for the good will not change the equilibrium price and Increase equilibrium quantity in the goods' market.

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