单选题
In the long-run, after all firms in a perfectly competitive industry
have adopted new technology, the:
- A. price will be set where average variable cost is equal to marginal
revenue.
- B. price will equal minimum average total cost.
- C. individual firm supply will decrease as the cost of implementing
technology increases.
【正确答案】
B
【答案解析】After some firms in an industry adopt a technological change, the existing firms that use the old technology will experience losses and either adopt the technology or exit the industry. Long-run equilibrium with price equal to minimum average total cost for the new technology will be established.