In a perfectly competitive market that is in long-run equilibrium, a permanent leftward shift in the market demand curve
A) raises the price in the short run.
B) raises profits in the short run.
C) leads to firms leaving the market in the long run.
D) raises the price at first but then returns it to its original level in the long run.
Correct Answer:
Verified
Q346: Q347: Q348: If the market for maple syrup is Q349: As firms enter a perfectly competitive market, Q350: A perfectly competitive market is in long-run Q352: In a perfectly competitive market, a permanent Q353: If a perfectly competitive market is in Q354: In a perfectly competitive market that is Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
