If firms are taking economic losses in the short run,then in the long run,firms will leave the industry,industry output will _____,and economic losses will _____.

Question

Quizplus · Accepted Answer

In the long run, firms will leave the industry which means there will be a decrease in the number of firms producing in the market. As a result, the industry output will fall and the economic losses will decrease.

If Firms Are Taking Economic Losses in the Short Run,then