The accompanying graphs are for a purely competitive market in the short run. The graphs suggest that as long run adjustments consequently occur, the firms in the industry will find that
A)profits will increase.
B)profits will decrease.
C)profits will be unchanged.
D)No predictions can be made based on the information given.

Question

The accompanying graphs are for a purely competitive market in the short run. The graphs suggest that as long run adjustments consequently occur, the firms in the industry will find that
A)profits will increase. 
B)profits will decrease. 
C)profits will be unchanged. 
D)No predictions can be made based on the information given.

Quizplus · Accepted Answer

The Answer of  The accompanying graphs are for a purely competitive market in the short run. The graphs suggest that as long run adjustments consequently occur, the firms in the industry will find that
A)profits will increase. 
B)profits will decrease. 
C)profits will be unchanged. 
D)No predictions can be made based on the information given.

The Accompanying Graphs Are for a Purely Competitive Market in the Short