Question

In a perfectly competitive long-run constant-cost industry, an increase in market demand causes:

 

In a perfectly competitive long-run constant-cost industry, an increase in market demand and causes:

A. An increase in quantity, a decrease in price, and no change in profit in the long run.

B. An increase in price, quantity, and profit in the long run.

C.an increase in quantity, no change in price, and no change in profit in the long run.

D.a decrease in price, a decrease in quantity, and a decrease in profit in the long run.