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11 Dec 2019
If a typical firm in a perfectly competitive industry is incurring losses, then
- some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms.
- some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms.
- all firms will continue to lose money
- some firms will exit in the long run, causing market supply to decrease and market price to rise increasing profits for the remaining firms.
If a typical firm in a perfectly competitive industry is incurring losses, then
- some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms.
- some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms.
- all firms will continue to lose money
- some firms will exit in the long run, causing market supply to decrease and market price to rise increasing profits for the remaining firms.
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6 Aug 2023
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Chika IlonahLv10
10 Oct 2020
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