Multiple Choice
Which of the following is MOST likely to cause firms to exit a perfectly competitive industry?
A) Consumer tastes and preferences for this product get stronger.
B) A technological advance allows all firms to produce more efficiently.
C) The price of a key variable input falls.
D) Consumer income falls.
Correct Answer:

Verified
Correct Answer:
Verified
Q64: In perfect competition,the assumption of easy entry
Q71: The slope of the total cost curve
Q102: People in the eastern part of Beirut
Q235: In the model of perfect competition:<br>A)the consumer
Q323: Use the following to answer questions:<br>Figure: Costs
Q324: Economic profits in a perfectly competitive industry
Q325: Hank operates a perfectly competitive firm in
Q326: Use the following to answer questions:<br>Figure: Game-Day
Q332: Use the following to answer questions:<br>Figure: A
Q333: For a firm producing at any level