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Question 28 Suppose a firm operates in the short run at a price above its average total cost of production. In the long run the firm should expect Not yet answered O a. new firms to enter the market. Marked out of 1.00 O b. the market price to fall. Flag question O c All the other three options are correct. O d. its profits to fall. Question 29 Economists speaking like scientists make Not yet answered a. positive statements. Marked out of 1.00 b. All the other three options are correct. Flag question c claims about how the world should be. Od. prescriptive statements. Question 30 Equilibrium quantity must increase when demand Not yet answered a. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease. Marked out of 1.00 O b. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease. Flag question O c. decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply increase. O d. increases and supply does not change, when demand does not change and supply increases, and when both demand and supply increase