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    Principles of Economics Study Set 8
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    Exam 14: Firms in Competitive Markets
  5. Question
    In the Long Run, When Price Is Less Than Average
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In the Long Run, When Price Is Less Than Average

Question 26

Question 26

True/False

In the long run, when price is less than average total cost for all possible levels of production, a firm in a competitive market will choose to exit (or not enter) the market.

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