Figure 11-13 -Refer to Figure 11-13.If the Diagram Represents a Typical Firm

question 149

Multiple Choice

Figure 11-13

-Refer to Figure 11-13.If the diagram represents a typical firm in the market,what is likely to happen in the long run?

• A) Some firms will exit the market causing the demand to increase for firms remaining in the market.
• B) New firms will enter the market causing the demand to decrease for existing firms.
• C) Inefficient firms will exit the market and new cost-efficient firms will enter the market.
• D) Competition will be intensified as firms strive to make long-run profits.

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