Fill in the Blanks to Complete the Following Statements

question 82

Essay

Fill in the blanks to complete the following statements.
"Assume a perfectly competitive market is initially in long-run equilibrium.In the short run,a decrease in raw materials prices will cause the firm's average costs to ________.As a result,the profits of existing firms will ________.However,over the long run,this will cause the number of firms in the market to ________,and market price will ________ until firms once again earn a ________."

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Definitions:

Hypothalamus

A region of the brain responsible for coordinating both the autonomic nervous system and the activity of the pituitary, controlling body temperature, hunger, thirst, and other homeostatic systems.

Concussion

A brain injury caused by a blow to the head or a violent shaking of the head and body, leading to temporary cognitive symptoms.

Depression

A mental disorder manifested by a chronic sense of despair or indifference towards hobbies, seriously impeding daily undertakings.

Fragmentation

The process or state of breaking or being broken into small or separate parts.