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Author Question: If firms in a competitive industry are suffering economic losses, then one would expect that in the long run, (Read 46 times)

mt05945

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on: Oct 12, 2022
If firms in a competitive industry are suffering economic losses, then one would expect that in the long run,
◦ the supply curve for the product will shift to the left as firms leave the industry, causing industry output to fall and price to rise.
◦ the supply curve for the product will shift to the right as individual firms lower their prices to increase their sales.
◦ there would be no change in the number of firms in the industry as long as firms are covering their average variable costs.
◦ the demand curve for the product will shift to the left, causing equilibrium output and price to decline.
◦ each firm would raise its price until it was breaking even.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by mt05945 on Oct 12, 2022

Sophia0717

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mt05945

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

vickybb89

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Reply 3 on: Yesterday
Wow, this really help

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