In the long run, if firms in a perfectly competitive market are incurring economic losses, then
A) new firms will enter the market and the price will rise.
B) some firms will leave the market and the price will fall.
C) some firms will leave the market and the price will rise.
D) new firms will enter the market and the price will fall.
C
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In the trade-based theory of exchange rate determination, the quantity supplied of a currency in the foreign exchange market results from
A) its exports of goods and services. B) the nation's demand for imports C) the level of domestic absorption. D) the import demand curve.
The longest economic expansion in the United States occurred during the
A) 1940s. B) 1960s. C) 1980s. D) 1990s.
It is difficult to make the concept of need useful because it is difficult to define and compare "needs" among people
a. True b. False Indicate whether the statement is true or false
The ratio of debt to GDP is much higher in the United States than in most other industrialized nations
Indicate whether the statement is true or false