The Market for Maple Syrup Is Perfectly Competitive

question 323

Multiple Choice

The market for maple syrup is perfectly competitive. Suppose that the market is in long-run equilibrium when the market demand for maple syrup increases. In the long run, firms will ________ the market and the market ________ will ________.

• A) leave; supply; decrease
• B) enter; supply; increase
• C) leave; demand; decrease
• D) enter; supply; decrease

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