Which of the Following Statements About Pure Competition in the Long

question 84

Multiple Choice

Which of the following statements about pure competition in the long run is not true?

• A)Entry and exit of firms will push economic profits of firms in the industry toward zero.
• B)Entry and exit of firms will shift the demand curve facing the representative firm in the industry.
• C)The long-run adjustment in pure competition happens through shifts in the industry supply curve.
• D)The long-run adjustment in pure competition happens through shifts in the industry demand curve.

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