Assume the surfboard manufacturing industry is perfectly competitive. If some firms in the industry are making a loss, firms will the industry and the market price will .

Name: Assume the surfboard manufacturing industry is perfectly competitive. If some firms in the industry are making a loss, firms will the industry and the market price will .
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In a perfectly competitive market, if firms are making a loss, some will exit the industry, reducing supply and causing the market price to rise.

Assume the Surfboard Manufacturing Industry Is Perfectly Competitive