If new firms enter an existing market,________.
A) the market price is likely to fall
B) the market demand is likely to increase
C) the market supply is likely to fall
D) the profits of all firms are likely to increase
Correct Answer:
Verified
Q222: Free entry is said to exist in
Q223: In a perfectly competitive market,all firms in
Q224: The entry and exit of firms in
Q225: The long-run supply curve for a firm
Q226: In a perfectly competitive market,the price in
Q228: The entry of new firms into an
Q229: When price is less than the firms'
Q230: The following figure depicts a firm's long-run
Q231: The figure below shows the supply and
Q232: Which of the following is true of
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