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If Economic Profits Exist in Perfect Competition, in the Long

Question 190

Multiple Choice

If economic profits exist in perfect competition, in the long run firms will enter because of easy entry, the _______ curve will shift to the right, and _______ will _______ .


A) supply; output; increase
B) demand; supply; fall
C) supply; demand; also shift to the right
D) demand; price; increase

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