If the demand increases in a perfectly competitive market,what will likely occur?
A) Firms will temporarily make a profit due to a higher price.
B) Firms will enter the market in hopes of capturing some profits.
C) The short-run supply curve will shift to the right, causing price to eventually fall.
D) All of these are true.
Correct Answer:
Verified
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Q152: In reality, the long run supply curve
Q154: If the demand decreases in a perfectly
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Q164: If demand in a perfectly competitive market
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