Suppose That Some Firms in a Perfectly Competitive Industry Earn

question 34

Multiple Choice

Suppose that some firms in a perfectly competitive industry earn negative economic profits in the short run.In the long run,the:

• A)short-run industry supply curve will not shift.
• B)short-run industry supply curve will shift to the left.
• C)number of firms in the industry will not change.
• D)number of firms in the industry will increase.

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