Figure 9-12

-Refer to Figure 9-12.Consider a typical firm in a perfectly competitive industry that makes short-run profits.Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?

Question

Figure 9-12
 
-Refer to Figure 9-12.Consider a typical firm in a perfectly competitive industry that makes short-run profits.Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?

Quizplus · Accepted Answer

The Answer of Figure 9-12
 
-Refer to Figure 9-12.Consider a typical firm in a perfectly competitive industry that makes short-run profits.Which of the diagrams in the figure shows the effect on the industry as it transitions to a long-run equilibrium?

Figure 9-12 -Refer to Figure 9-12.Consider a Typical Firm in a Perfectly