When the Market Is in Long-Run Equilibrium in a Perfectly

question 10

Multiple Choice

When the market is in long-run equilibrium in a perfectly competitive market, this implies that in the long run means

• A)no firm in the industry has an incentive to exit.
• B)no firm outside the industry has an incentive to enter.
• C)no firm in the industry has an incentive to increase or decrease its output.
• D)all of these conditions are met in the long run equilibrium.

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