A decrease in production costs for firms in a perfectly competitive market will cause a(n):

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In a perfectly competitive market, firms operate at minimum efficient scale in the long run, leading to no economic profits. A decrease in production costs will result in increased profitability, and firms will enter the market, causing a rightward shift in the market supply curve in the long run. This will lead to a decrease in the equilibrium price, benefiting consumers with lower prices.

A Decrease in Production Costs for Firms in a Perfectly