Multiple Choice
Suppose that some firms in a perfectly competitive industry are incurring negative economic profits. The:
A) industry supply curve will not shift in the long run.
B) industry supply curve will shift to the right in the long run.
C) number of firms in the industry will not change in the long run.
D) industry is not in long-run equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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