Multiple Choice
Which of the following is not a condition of long-run competitive equilibrium?
A) There is no incentive for firms to enter the industry.
B) There is no incentive for firms to exit the industry.
C) There is no incentive for firms to produce more or less output.
D) There is no incentive for firms to change plant size.
E) None of the above; that is, all are conditions of long-run competitive equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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