If a perfectly competitive firm is in long-run equilibrium and market demand suddenly decreases,the firm will experience _____

Question

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In a perfectly competitive market, firms earn only normal profits in the long-run equilibrium. If market demand suddenly decreases, the equilibrium price will decrease, and the firm will face a lower price for its output. This lower price will lead to lower revenue, but the firm's costs will remain the same. As a result, the firm will not be able to cover its costs and will incur an economic loss.

If a Perfectly Competitive Firm Is in Long-Run Equilibrium and Market