If firms are making positive economic profits in the short run, then in the long run:
A) the short-run industry supply curve will shift leftward.
B) firms will enter the industry.
C) industry output will rise and the price will rise.
D) firms will leave the industry.
Correct Answer:
Verified
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Q183: Suppose that some firms in a perfectly
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Figure: Short-Run
Q186: Use the following to answer questions:
Figure: Short-Run
Q195: Suppose that the market for haircuts in
Q196: The short-run industry supply curve:
A)shows the total
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