Suppose firms in a perfectly competitive market are incurring an economic loss. Over time
A) other firms enter the market, so the price rises and the economic loss decreases.
B) some firms leave the market, so the price rises and the economic loss decreases.
C) other firms enter the market, so the price falls and the economic loss decreases.
D) some firms leave the market, so the price falls and the economic loss decreases.
Correct Answer:
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