If the market price of a good is less than the opportunity cost-09105
If the market price of a good is less than the opportunity cost of producing it,
This multiple choice question (MCQ) is related to the book/course
vu eco402 Microeconomics.
It can also be found in
vu eco402 Final Term - Quiz No.2.
If the market price of a good is less than the opportunity cost of producing it,
the market price of the product will fall in the long run.
producers will increase supply in the long run.
resources will flow away from production of the good, causing supply to decline with the passage of time.
the situation will remain unchanged as long as supply and demand remain in balance.
