In a Perfectly Competitive Market That Is in Long-Run Equilibrium

question 29

Multiple Choice

In a perfectly competitive market that is in long-run equilibrium, a rightward shift in the market demand curve results in

• A) the price falling in the short run.
• B) the firms' economic profits falling in the short run.
• C) firms leaving the industry in the long run.
• D) none of the events listed above.

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Definitions:

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Smartphone Users

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Shopping-related Information

Data or details relevant to the purchasing of goods or services.

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The level of focus and interest an audience gives to a message or presentation.