When firms in a perfectly competitive market incur economic losses,exit by some firms means the market supply will
A) increase.
B) decrease.
C) not change.
D) become vertical.
E) become the same as the individual producers' supplies.
Correct Answer:
Verified
Q169: In the long run,perfectly competitive firms produce
Q170: In a perfectly competitive industry,
i.entry by new
Q171: In the long run,perfectly competitive firms will
Q172: To eliminate losses in a perfectly competitive
Q173: Catfish farming is a perfectly competitive industry.Catfish
Q175: Keith is a perfectly competitive carnation grower.The
Q176: In the long run,existing firms exit a
Q177: When firms in a perfectly competitive market
Q178: When new firms enter a perfectly competitive
Q179: If perfectly competitive firms are making an
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