The entry of new firms into a competitive industry in the long run has the effect of

a. driving up long-run equilibrium price
b. eliminating economic profits
c. reducing equilibrium quantity
d. making the demand curve facing each firm more inelastic
e. shifting the cost curves for each firm by an amount equal to total cost divided by the number of firms


B

Economics

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Which of the following statements about the Sherman Act is CORRECT?

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Which of the following statements is true?

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Holding everything else constant, a country's imports will decrease if the:

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Economics