If a Purely Competitive Increasing-Cost Industry Is Realizing Economic Losses

question 154

Multiple Choice

If a purely competitive increasing-cost industry is realizing economic losses, we can expect industry supply to

• A)decrease, output to fall, price to rise, and profits to rise.
• B)decrease, output to fall, price to fall, and profits to rise.
• C)increase, output to rise, price to fall, and profits to rise.
• D)decrease, output to rise, price to rise, and profits to rise.

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