Suppose that a perfectly competitive industry is in long-run equilibrium.The price of a complement good decreases.What will happen?
A) Next period a typical firm will increase output.
B) Next period a typical firm will earn positive economic profit.
C) Some firms will be forced to exit the industry.
D) both a and b
E) all of the above will happen
Correct Answer:
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Q25: To answer the question,refer to the following
Q26: Q27: In a perfectly competitive market, Q28: Which of the following CANNOT be true Q29: When a perfect competitive industry is in Q31: The table below shows a competitive Q32: Which of the following is NOT a Q33: The table below shows a competitive Q34: To answer the question,refer to the following Q35: To answer the question,refer to the following
A)a firm can
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