Solved

(Figure: Determining Long-Run Adjustments) If the Current Price Is $36

Question 157

Multiple Choice

(Figure: Determining Long-Run Adjustments) If the current price is $36 in this perfectly competitive industry
(Figure: Determining Long-Run Adjustments)  If the current price is $36 in this perfectly competitive industry   A)  the presence of economic profit will attract new firms to the industry. B)  firms will neither enter nor leave the industry. C)  losses in the short run will persuade some firms to leave the industry. D)  the product's price will decrease in the long run.


A) the presence of economic profit will attract new firms to the industry.
B) firms will neither enter nor leave the industry.
C) losses in the short run will persuade some firms to leave the industry.
D) the product's price will decrease in the long run.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents